A crypto investor made hundreds of thousands of dollars thanks to a meme coin launched by a Binance-supported decentralized exchange (DEX).
According to data from the on-chain analytics platform Lookonchain, an investor recently made a $407,000 profit from a meme coin called PUMP, which was launched by the Binance-supported decentralized exchange BakerySwap.
The investor in question made a $174,000 purchase of PUMP as soon as it was released, by paying a high transaction fee, successfully becoming one of the first to buy PUMP on the exchange.
After the purchase, they waited just 10 minutes, took advantage of the price increase, and sold all their PUMP assets for $581,000, resulting in a 234% profit. In the span of 10 minutes, the investor made 702 BNB, worth $407,000.
