In a surprising move, U.S. Representative Mike Collins revealed his unconventional trading activities by participating in the buying and selling of crypto altcoins. One specific trade has already yielded the Congressman over 135% in unrealized profits.
On July 11, Congressman Mike Collins disclosed the sale of three DeFi altcoins – namely, The Graph (GRT), Velodrome (VELO), and Aerodome (AERO) – with sales amounts ranging from $1,001 to $15,000, signaling an active involvement in the crypto market.
Interestingly, the filings also indicated previous and future AERO purchases within the range of $1,001 to $50,000, showcasing a strong commitment to this particular investment. Aerodrome, known as the leading liquidity hub and decentralized marketplace of Coinbase’s Ethereum network, caught Collins’s attention.
Following a similar pattern, on August 25, Collins disclosed an AERO sale and repurchase within the same price range of $15,001 to $50,000, reflecting strategic trading decisions.
Congressman Collins demonstrated astuteness in his AERO trading ventures, capitalizing on price differentials to maximize profits. His calculated moves have proven fruitful, with Aerodrome’s token currently trading at $1.18 post a significant surge.
The Congressman’s adept trading strategies include purchasing at lower prices and selling at opportune moments, exemplified by his significant unrealized profits reaching up to 156%. From a more conservative standpoint, Collins is estimated to have profited around 135% based on AERO’s exchange rate fluctuations, potentially leading to unrealized profits of up to $67,500.
Collins made history as the first U.S. politician to engage in AERO trading, a rare feat among political figures despite the emerging altcoin market trend, anticipating an impending altseason.
Despite the positive momentum, concerns loom over Base’s Ethereum network’s recent outage, highlighting potential vulnerabilities within the crypto sphere. Moving forward, it will be essential to monitor how such incidents impact users and market dynamics.
The article detailing Congressman Collins’s profitable crypto trade showcases his unique approach to financial investments and sheds light on the evolving landscape of cryptocurrency trading.