An altcoin investor made millions in just a few days thanks to a market-wide surge.
Investor Strikes Gold with ENA
According to blockchain analytics platform Spot On Chain, a trader using a multi-signature wallet invested in ENA, a token developed by Ethena Labs.
The trader, speculated to be either very lucky or possessing insider information, withdrew a total of 13.86 million ENA from Gate.io between May 17 and yesterday, just before the ENA price began to climb.
Ethena Labs and Binance Connection
Ethena Labs, the creator of a synthetic dollar protocol, received investment from Binance Labs as part of the sixth season of its incubation program. Binance introduced Ethena as a Launchpool project and subsequently listed it on their exchange in early April.
Impressive Gains in a Short Time
The trader’s average cost per ENA was approximately $0.731. With a total investment of $10.13 million, the investor made an impressive profit of $1.87 million in just four days.
This article was created using various sources and AI assistance and does not constitute investment advice.
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