An Ethereum trader has achieved a remarkable feat by turning a mere 0.7 ETH into a staggering $1.39 million in just three weeks.
According to Lookonchain monitoring, the story began when this trader spent 0.7 ETH ($1,848) on February 14 to buy 4.26 million GPU tokens. At the time, GPU had only been live for two months.
In just 21 days, this trader made ~$1.39M with only 0.7 $ETH($1,848), a gain of 755x!
He spent 0.7 $ETH($1,848) to buy 4.26M $GPU on Feb 14, when $GPU had been online for more than 2 months.
Then sold 3.37M $GPU for 102 $ETH($336K), with 891K $GPU ($1.06M) left.… pic.twitter.com/kUMLpPR0iu
— Lookonchain (@lookonchain) March 6, 2024
Capitalizing on the token’s price surge after their initial purchase, this trader then sold 3.37 million GPU for 102 ETH ($336,000) several hours before press time.
755x Return in 21 Days
On-chain data shows that this investor still holds 891,000 GPU ($1.06 million) tokens in their wallet.
If the trader were to offload their renaming GPU tokens worth $1.06 million, they would make a total profit of $1.39 million, which translates to a 755x return on their investment. This final figure is obtained by adding the $336,000 profit already taken to their $1.06 million unrealized profit.
What is GPU?
GPU is the native token of Node AI, a decentralized platform that provides access to GPU and AI resources, utilizing blockchain to “create a secure and transparent environment for users.” GPU facilitates various activities within the platform, including revenue sharing and renting AI servers with high GPU capabilities.
Since its launch, GPU has been printing impressive numbers. For instance, around the time this trader first purchased the token, its market cap was just $4.3 million. Fast-forward to today, and GPU’s market cap has grown to $116 million.
This market cap has been mainly pushed by the token price surge over the past few weeks. Data from CoinGecko shows that GPU has surged 534% over the past week.
The token trades at $1.25 at press time, gaining 114.0% in the past 24 hours. With a 534% surge over the past week.
