A crypto trader made headlines by turning a $135 purchase of an Ethereum-based memecoin called TERMINUS, aka First City in Mars into $1.2 million in just 15 days.
This trade, executed on Uniswap on September 8, saw its value soar nearly 1,000 times by September 21. Epic!
The rise of TERMINUS
The increase from $135 to $1.2 million represents a growth of about 9,000 times in a little over two weeks, making it one of the most profitable trades recorded this year.
The jump in TERMINUS’s price can be attributed to several factors, including a social media posts by pretty known names.
DogeDesigner for example speculated that Elon Musk might name the first city on Mars Terminus.
While Musk hasn’t officially endorsed TERMINUS, the connection between him and the meme coin has helped drive its popularity further, especially after he expressed his plans to establish a city on Mars in the future.
SpaceX plans to launch about five uncrewed Starships to Mars in two years.
If those all land safely, then crewed missions are possible in four years. If we encounter challenges, then the crewed missions will be postponed another two years.
It is only possible to travel from… https://t.co/dzi03Hnyhg
— Elon Musk (@elonmusk) September 22, 2024
There is a potential for even greater profits as TERMINUS experienced an additional rise of 50.24% in the last 24 hours, bringing its current price to $0.387.
The memecoin boom
September saw a quite impressive resurgence in meme coins, despite earlier market struggles known as ‘The September Effect.’
As investors look forward to ‘Uptober,’ the past month has been fruitful for many memecoins.
Of course, the $135 to $1.2 million journey of TERMINUS stands out as the most rare and extreme, there have been other epic trades as well.
Another trader exchanged 6 Solana, valued at around $800 at the time of the trade on September 6, for Moo Deng and saw their investment skyrocket to $1.3 million within two weeks.
An investor who bought $16,550 worth of First Neiro in early August made about $1.8 million from that investment by mid-September.
The song says „it’s 20 percent luck…” but we think these traders had a little more!
Memecoin trends
Memecoins became a popular trend in the 2024 crypto market. There are lots of success stories, like one trader turned a $650 investment into $67,000 by trading Sundog in mid-August.
We indeed believe they’re popular! Another example is the brief but impressive success of Hawk Tuah in late June.
It’s undeniable that many traders are enjoying massive gains from these memecoins, not every trade ends well.
We also saw a legendary loss too when an investor put $1 million into MBAPPE, only to see its value plummet to $9,000 within just one hour.
There is no better sign of the risks involved in trading memecoins. It’s smokin’ hot trend, but we can burn.
