Insane 41,000% Profit: Trader Flips $5K of BNB Into $2.16 Million in Minutes

Senior Editor
BNB
BNB

Key Points

Binance DEX sees massive BNB transfers, raising insider trading speculations.
BNB’s short-term bearish trend shows a 2.68% price decrease and declining trading volume.
Large-scale BNB transactions continue despite weakening price momentum.

BNB has recently been at the center of large transaction activity, with one major trade gaining widespread attention. Leading blockchain analytic platform Lookonchain shared how an anonymous trader turned $5,245 into $2.16 million in just 40 minutes, marking an incredible 410x return. 

Notably, the trader spent 4 BNB (worth $5,245) to buy 41.11 million BNBHolder tokens in the early hours of today. The user then sold 33.55 million of those tokens for 956 BNB ($1.25 million) within 40 minutes, leaving 7.55 million BNBHolder tokens valued at $906,000. In total, the user made a profit of over $2.15 million, representing an ROI of 41,088%. 

The transaction also shows the large-scale activity within Binance DEX, where these trades were executed. The trades were done with minimal gas fees, typically under 0.0001 BNB, highlighting the low-cost of transacting on the network.

Speculation Surrounds Insider Trading

Following the transactions, a user’s comment on X drew attention to a potential insider trading scenario. The user suggested that, had they been an insider, they would have bought more than what was observed in these transactions.

The comment reflects a sentiment within the crypto community that there may be more to the story than meets the eye. While the specifics of the trades remain unclear, the sheer volume of the transactions has led some to speculate that insider knowledge may be influencing the movements. However, no clear evidence has surfaced to support the insider trading claims, and it remains a topic of speculation within the community.

BNBHolder’s Surge Amid BNB’s Short-Term Weakness

Amid the large-scale activity, BNB’s price has shown signs of short-term weakness. The current price of BNB is $1,269.40, representing a 2.68% decrease from its previous value within the last 24 hours. The price shifted between a high of $1,306.8 to its current value. Trading volume has also decreased, with a 24.09% drop in the past 24 hours. The total volume of BNB traded during this period stands at $7.88 billion, a stark contrast to the asset’s typical activity levels.

Meanwhile, the BNBHolder token is currently priced at $0.04563, recording a 402,074.79% increase in the past 24 hours. Launched recently, the token experienced a price surge, peaking at $0.1606 before a decline. The current market cap stands at $48.98 million, with a 24-hour trading volume of 266.8K, showing large activity on the DEX.

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Evans Kelvin

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Fear & Greed Index

Extreme Fear Fear Neutral Greed Extreme Greed
13/100
Extreme Fear

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BNB
$---.-- --.--%
Market Cap $---.--B
24h Volume $---.--B
Circulating Supply ---.--M
Rank #---
Risk Score ---
7d Change --.--%

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