One trader just demonstrated the rare alignment of picking promising tokens, and being extremely lucky by turning an investment of less than $100 into nearly $100,000 in under a day.
Small investment, massive profit, the this is why crypto market is legendary?
A crypto trader achieved a more than 1,000x return by trading Incept. The trader turned $95 into a nice $96,900 in just 12 hours of trading.
Unbelievable!😱
Turned $95 into $96.9K in just 12 hours—more than a 1000x return!
Many of the wallets that made ~1000x profit on $INCEPT appear to be insider wallets. They were all created 4 days ago and have only traded $INCEPT.https://t.co/AvNHFbRjpO pic.twitter.com/aOm3z1VXAx
— Lookonchain (@lookonchain) September 26, 2024
But the analysts team noted that the addresses making these 1,000x profits on INCEPT appear to be insider wallets.
This suspicion arises from the fact that these wallets were created only four days ago and have exclusively traded INCEPT so far.
What is the INCEPT token?
INCEPT is a new cryptocurrency token built on the ERC-4D standard, which is the first of its kind.
Crypto analyst 0xGCB explained that INCEPT combines three major standards, the ERC-20 for regular tokens, the ERC-721 for individual NFTs, and ERC-6551, which is kind of a token account, similar to a wallet function.
这几天 ETH 上如狼似虎的 Dev 比玩家还勤奋, 一个简单的模因+合约税+开盘迅速拉高, 其目的是吸引到聪明钱买入, 接着便是一轮猛砸，套住跟单的玩家
老实说P的有点太累了, 昨天唯一亮眼的只有 $Incept @Incept_ERC4D
0x1c43cd666f22878ee902769fccda61f401814efb
启动在昨晚凌晨2点,… pic.twitter.com/ZRTyCh1XKE
— 0x盖茨比 🎯 (@0xGCB) September 26, 2024
In simple terms, each INCEPT token can serve as a wallet and hold various assets, including NFTs, data, and even more INCEPT tokens.
For an analogy, it’s like inside a game you have a character, represented by an ERC-6551 token, and the character has in-game currency in the inventory, as an ERC-20 token, and also various in-game items, like weapons, as individual NFTs.
You can trade the character all with its belongings, but also only the weapons or the in-game currency separately. The concept offers unique functionality.
INCEPT token price performance, where is the 1000x?
At the time of writing, INCEPT is trading at $1,130, reflecting a few percent increase since its launch on September 25.
While this crypto trader, whether an insider or not, succesfully managed to make massive profits through their strategic trading of INCEPT, it’s pretty important to exercise extreme caution when attempting to replicate such success.
Trends in the crypto market, especially for new tokens, can change rapidly. Yes, this trade highlights the potential for insane gains in the crypto market, but it also shows the risks involved, as losing $96.9K is maybe way more easier.
