Crypto:
30188
Bitcoin:
$69.832
% 4.31
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 69.832
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Altcoin Investor Makes $1.87 Million in Four Days

Altcoin

A single altcoin investor made millions of dollars in just a few days thanks to a recent market-wide rally.

According to a report by blockchain analytics platform Spot On Chain, a trader using a multi-signature wallet invested in ENA, developed by Ethena Labs.

The trader, who has been questioned as to whether they were “lucky” or had “inside information,” withdrew a total of 13.86 million ENA from Gate.io exchange between May 17 and yesterday before the ENA price started to rise.

Ethena Labs, which develops a synthetic dollar protocol, received investment from Binance Labs, the $10 billion investment arm of Binance, as part of the sixth season of the incubation program. Binance listed ENA on its exchange in early April after introducing it as a Launchpool project.

The cost per unit of ENA for this investor was an average of $0.731. Having invested a total of $10.13 million, the trader made $1.87 million in four days.

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