News - Becoming a millionaire with $42? These are the most spectacular crypto trades of 2023

By Luc Vesters

Becoming a millionaire with $42? These are the most spectacular crypto trades of 2023

Solana (SOL)

Trading cryptocurrencies is almost a form of art. The market never sleeps. Prices fluctuate every day - in all directions, sometimes by double digits. That's why we always hear the story of the poor guy who becomes a millionaire overnight with a bold investment. Or the unlucky person who loses everything - in one trade. Reality according to studies: 90 percent of fortune hunters lose their money on the market. Millions won, billions lost. These were the craziest crypto trades of the year.

Disclaimer: This article is purely informational and not financial advice. Crypto trading involves significant risks and achieving large profits in this article is very rare. The crypto market is volatile and losses are possible. Trade wisely.

4th place: At 98 US dollars to one million in 91 days

Becoming a millionaire in three months - with less than one hundred US dollars. Sounds like an insane dream. This crypto fortune teller was found by DeFi analyst Reflection on Twitter.

The trader makes most of his insane profits with three coins he invests in early. In particular, AirTor, a Ethereum token to be launched in March 2023. Here he makes a profit of $900,000. The token rose several thousand percent during the year, but shortly after the tweet it plunged 50 percent, suggesting insider trading.

3rd place: $55 million loss in one day

Ouch, that hurts. One trader lost about $55 million this year - on one fateful day. This was reported by Coindesk. The trader trades 38,986 Ethereum on Binance with a long trade, meaning he is betting on a price increase. But within minutes, Ethereum suddenly drops by about $200 on Aug. 18, 2023. The position is liquidated. A huge drop, as it comprises nearly 30 percent of all futures on Binance. The identity of the unlucky person is not known, but given the size of the position, you can assume it was a company.

2nd place: Become a millionaire in two weeks with $450

Still fresh: Last week a trader made a profit of 4,287x in 14 days with a new memecoin. And become a millionaire with $450. Memecoin is a newcomer to the Avalanche blockchain, the token Coq Inu. This reports Coindesk. The token was launched on Dec. 8, 2023. So far, it has realized only about one million US dollars in profit.

1st place: Become a millionaire with $42 in 16 days

16 days, $42 staked - a profit of $1.55 million. And all this with memecoin at Solana named - brace yourself - SILLY. Is there any more crypto? Silly Dragon is one of the new memecoins which is currently breaking percentage records on the fast track to becoming the "fastest blockchain" in the world. Two days after its launch on Dec. 5, 2023, the token was already up 900 percent. The inspiration: a Halloween costume by Solana founder, Anatoly Yakovenko. Shown there: a "silly dragon."

The trader invested 0.7 solana, equal to $42 at the time. This earned him more than 20 Silly tokens, briefly worth $1.55 million. For the most part, he has now cashed in. With probably a tear in his eye: As silly as it sounds, the token continues to climb to new all-time highs and now has a market capitalization of US$130 million. The trader's stake would now be worth nearly US$3 million.

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