In the fast-evolving realm of cryptocurrencies, there are ample opportunities for investors and traders to capitalize on careful selection and timing of crypto trades. A recent example showcased a crypto trader who transformed a sub-$100 investment into nearly $100,000 within a single day.
This specific trader achieved an extraordinary return of over 1,000 times by engaging in trades involving Incept (INCEPT), generating a staggering sum of up to $96,900 from a mere $95 investment in just a 12-hour span of trading activity. Data shared by the blockchain analytics platform Lookonchain, highlighted in an X post on September 26 and accessible via etherscan.io, shed light on these remarkable trading feats.
The Lookonchain team hinted at the possibility that wallets generating such substantial returns on INCEPT could be insider accounts, given their recent emergence and exclusive focus on trading this particular token over the course of only four days.
Diving deeper into the INCEPT token itself, it stands out as a novel cryptocurrency adhering to the ERC-4D standard, a groundbreaking development in the crypto sphere. Notably, according to insights provided by crypto analyst 0xGCB on September 26, INCEPT amalgamates three key standards – ERC-20 for regular tokens, ERC-721 for NFTs, and ERC-6551 for token accounts, effectively serving as a multifunctional storage unit capable of housing various assets, including NFTs, data, and additional INCEPT tokens.
Despite its infancy in the market, INCEPT commanded a price of $1,137.06 as of recent data gathered by Finbold from the DEX Screener platform on September 26, reflecting a modest 1.48% uptick since its debut on September 25.
The saga of the aforementioned crypto trader, whether an insider or external participant, underscores the potential windfalls attainable through astute trading decisions, particularly in the realm of emerging tokens like INCEPT. Nonetheless, a word of caution persists for aspiring traders looking to replicate such success, as the volatile nature of the crypto market, especially with nascent tokens, dictates a need for heightened vigilance and risk management strategies.