This Crypto Trader Turned $33K into $12.2M in 24 Days

The crypto market’s volatility has repeatedly benefited various investors, as the latest report demonstrates.

On-chain data revealed that a trader invested 200 SOL (worth $33,000) in a cryptocurrency dubbed ai16z and netted $12.2 million after 24 days. Due to the asset’s price volatility, this massive price surge represents a 371% surge.

Turned $33K into $12.2M in just 24 days!

This guy spent 200 $SOL($33K) to buy 30.6M $ai16z 24 days ago, which is now worth $12.2M, a 371x return! #ai16zhttps://t.co/WnTGqM5BNQ pic.twitter.com/BXRqsxpyqd

— Lookonchain (@lookonchain) November 18, 2024

What is ai16z?

ai16z is a Solana-based crypto asset whose backstory cuts across artificial intelligence (AI) and the blockchain. The AI-focused project adopts a16z, a venture capital co-founded by Andreessen Marc, as a gimmick to attract investors’ attention.

According to its website, ai16z describes itself as the first AI venture capital fund managed by Marc AIndreessen (AI Marc). Members of the project’s decentralized autonomous organization (DAO) can pitch ideas and insights to AI Marc to influence decisions involving the AI-focused crypto ecosystem.

Despite its debut in October, the Solana-based token has unlocked meteoric growth to incredible heights. Only 18 days after its debut, ai16z attained a market capitalization of $100 million, representing over 114,000% surge.

Trader Nets Massive Profit

The latest data shows an investor tapping into the AI-focused project to net massive gains by buying and holding.

This is not a standalone case of investors netting huge profits from investing in a crypto asset. Memecoins have a practice of recording incredible volatilities that can send their prices to high levels. Earlier this month, a memecoin trader bought 10.9 million ACT tokens for $318,000 immediately after Binance announced that it would list the asset. The trader’s portfolio became valued at $3.4 million an hour later.

In another occurrence, an investor saw a 12,000% return on investment after acquiring PNUT, a Solana-based memecoin. The price surge coincided with when the digital asset’s market capitalization soared to over $120 million.