Ban Comedian Crypto Profits: How an Investor Transformed $1,700 into $873,000 in Just Two Days
Ban Comedian Crypto Trading Success
Amid the ongoing trend of investors profiting massively from meme coins, an unknown trader has capitalized on this momentum to record a 490-fold return on their investment in the Comedian (BAN) token.
From $1,795 to $873,000
In a striking example of crypto investing savvy, a trader turned an initial investment of $1,795 into $873,000 in just two days using the BAN/SOL pair on the Raydium automated market maker (AMM) platform, according to recent data shared by the on-chain analysis platform Lookonchain on October 27.
Strategic Buying and Selling
- The investor began their journey with 10.2 Solana (SOL), acquiring a staggering 36.27 million BAN tokens.
- As BAN surged, the investor stayed disciplined, incrementally cashing in on their gains and avoiding the temptation to sell all at once.
- They sold portions of their holdings after each price peak, allowing them to lock in profits while still maintaining a stake in the meme token rally.
Key Sales and Massive Returns
During the first rally, the trader offloaded 12 million BAN for $56,900. However, following a nearly 90% drop in value, their patience was rewarded. A second surge saw 6.13 million tokens sold for $80,700, bringing cumulative earnings to over $137,000.
By the end of this trading run, the investor still retained 18.13 million BAN, valued at $734,000, pushing the total balance to $873,000.
Why BAN Saw a Price Rally
The BAN meme coin finds its inspiration from Maurizio Cattelan's iconic artwork, the “Comedian,” a banana duct-taped to a wall which sparked debates on consumerism and the art market back in 2019. Recently, it regained attention after Sotheby's announced one of its editions is going up for sale, potentially fetching at least $1 million. This staggering valuation invigorated social media discussions, amplifying BAN's price movement.
Additionally, momentum was fostered by new listings on exchanges like Poloniex, enhancing trading capabilities starting October 27.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.