Here’s How a Trader Earned Over $2M from TURBO Memecoin

The TURBO token has quickly gained attention within the crypto community, experiencing an impressive 7.5x price increase. Notably, one trader turned a $278K investment into an astounding $2.65 million during TURBO’s rapid climb.

Crypto Trader Nets $2.44M in Profit

According to Spotonchain, an AI-powered analytics platform known for its detailed on-chain data analysis, the trader started acquiring TURBO tokens on May 5, 2023. Over time, they built up a substantial position, amassing a total of 897.57 million tokens at an average cost of $0.0004 per token, reflecting a strategic and calculated investment approach.

12 hours ago, an early holder deposited the last 695M $TURBO ($2.65M) to #OKX for a huge profit!

Notably, this holder began trading $TURBO on May 5, 2023, and had traded 897.57M tokens in total.

With an avg entry price of $0.0004 and an exit at $0.003, this holder has likely… pic.twitter.com/WoTKC9TLl0

— Spot On Chain (@spotonchain) September 11, 2024

The investor held the majority of these tokens for around 1.3 years before timing their sale perfectly. Recently, they sold 695 million TURBO tokens on OKX, securing $2.65 million for $0.003 per token. This transaction marked a 7.5x return on their initial investment, translating to a profit of $2.44 million.

Although TURBO has experienced a slight price pullback, it remains resilient, with promising growth potential. Its ties to memecoins and AI have fueled its popularity, helping it reach an all-time high of $0.00978 three months ago. TURBO’s success has also been bolstered by listings on major exchanges such as Binance, Crypto.com, and Kraken.

Whale Investor’s Strategic ETH Gains

In a separate event, the blockchain analytics platform Lookonchain reported that a seasoned whale investor made headlines by purchasing 5,000 ETH—valued at approximately $11.46 million—during a market dip. This investor has a track record of making well-timed moves. In November 2022, they acquired 5,200 ETH at an average price of $1,322. Between December 2023 and January 2024, they sold this ETH at an average price of $2,093, earning a profit exceeding $4 million.

However, not all investors have been as fortunate. Another individual spent 5,200 ETH (around $16.7 million) to acquire 11.1 million FRIEND tokens. Unfortunately, the value of these tokens has plunged, now sitting at just $0.7 million. This sharp decline resulted in a significant loss of nearly $16 million, underscoring the risks and volatility associated with the crypto market.