A knowledgeable trader in the crypto market recently carried out a highly successful trade with cryptocurrency, reaping significant profits in a short period. With strategic timing, the trader acquired 3AC tokens, showcasing keen market instincts and ultimately securing substantial returns.
The tokens in question are associated with Su Zhu and Kyle Davies of the now-defunct Three Arrows Capital (3AC) company. Despite facing challenges leading to bankruptcy in 2021, the duo have announced a revival of their new venture on X platform.
In an impressive feat, the trader amassed $1.5 million within seven hours by conducting a series of transactions. Initially purchasing 28.03 million 3AC tokens for 238 ETH, equivalent to $641,500, they later sold 24.95 million tokens for 799 ETH, valued at $2.15 million. Holding onto a portion of the initial investment, the trader realized a profit of 561 ETH ($1.5 million). This trade has garnered significant attention in the crypto community, emphasizing the potential gains from market volatility.
Another investor named 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.
The resurgence of Three Arrows Capital amidst its past setbacks has attracted interest from various cryptocurrency investors, suggesting confidence in the firm’s efforts to rebuild. The trader’s swift profit highlights the lucrative yet risky nature of the crypto market, while the strategic investments made by others demonstrate belief in the company’s comeback potential.