A knowledgeable cryptocurrency trader recently carried out a highly successful trade in the crypto market, generating significant profits in a short period. Through a strategic acquisition of 3AC tokens, the trader displayed keen market instincts, resulting in substantial returns.
The tokens in question are associated with Su Zhu and Kyle Davies and their former company, Three Arrows Capital (3AC). Despite facing challenges leading to bankruptcy in 2021, Zhu and Davies announced the revival of their new venture on X.
Lookonchain reported that the trader bought 28.03 million 3AC tokens using 238 ETH, valued at $641,500, and later sold 24.95 million tokens for 799 ETH, amounting to $2.15 million. The trader retained a portion of the initial investment, achieving profits of 561 ETH ($1.5 million) within just seven hours. This successful trade has garnered significant attention in the crypto community, underscoring the lucrative prospects arising from market volatility.
Machi Big Brother invested 125 ETH, approximately $336.8K, to purchase 3.28 million $3AC tokens at an average price of $0.1028 per token.
This purchase coincides with the resurgence efforts of 3AC, previously affected by a prominent collapse during the last crypto bull run. Despite its past troubles, several prominent crypto investors are expressing optimism for 3AC’s revival. Their interest in acquiring $3AC tokens indicates confidence in the firm’s rebuilding endeavors, showcasing continued optimism within certain segments of the crypto landscape.
The significant investment made by Machi Big Brother further illustrates the growing belief among some investors in the potential recovery of the 3AC project. The future success of Three Arrows Capital’s turnaround remains uncertain but has certainly captured the interest of market participants.
Overall, the swift profits generated by the trader in a brief timeframe underscore both the opportunities and risks inherent in the volatile cryptocurrency market. The resurgence and new ventures of Three Arrows Capital (3AC) have attracted substantial investor attention, with strategic investments reflecting confidence in the firm’s revival.