One investor has seen extraordinary profits of over 130,000% on a Solana (SOL)-based memecoin called TROLL in just a few months, as per data from blockchain tracking firm Lookonchain.
The investor, known as ‘frostx.sol’, initially invested $2,900 in 20.91 million TROLL tokens three months ago. After selling 2.55 million for $50,700, they still hold 18.36 million TROLL tokens valued at $3.73 million. With TROLL’s recent surge, their profit stands at $3.78 million, marking a remarkable 1,300x return.
TROLL reached an all-time high of $0.2018 on Wednesday, showing a 423% increase from its seven-day low of $0.0403. Currently, TROLL is trading at $0.1669, up 15.2% for the day, with a market cap of $175 million making it the 344th largest crypto project.
Despite the memecoin craze boosting network activity on Solana, crypto analytics platform Glassnode suggests that investor interest in Solana may be waning in favor of Ethereum (ETH). The Hot Realized Cap metric indicates a shift in capital inflow towards ETH at the expense of Solana.
At present, ETH is priced at $3,649, showing a 1.7% increase in the last 24 hours, while SOL is trading at $167, up 2.6% for the day.
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