Trader transforms $2,000 into $3.2 million in just one day through metaverse token trading

A trader was able to generate over $3.2 million in profit despite a downturn in the broader crypto markets. These markets are still recovering from a lack of liquidity during the holiday season.

The trader, who remains unidentified, turned an initial investment of $2,137 into over $3.2 million by trading the newly launched Hyperfy (HYPER) token.

According to blockchain analytics platform Lookonchain, this return represents more than 1,500 times the initial investment in just 10 hours. Lookonchain detailed this impressive feat in a post on X on Jan. 6:

“Turned $2,137 into $3.24M in just 10 hours—a 1,515x return… Since then, the trader has been taking profits, selling a total of 17.88M HYPER for 10,286 SOL($2.21M) and still holding 4.12M HYPER ($1.03M).”

Savvy Hyper trader, selling patterns. Source: Lookonchain

Hyper was launched on Raydium at 1:45 am UTC on Jan. 6 as the utility token of the Hyperfy metaverse and gaming platform.

HYPER/USD, all-time chart. Source: Raydium

The Hyper token reached an all-time high of $0.26 at 12:30 pm UTC before dropping to $0.19 at 2:15 pm. Its market capitalization now exceeds $198 million, according to Raydium data.

Related: Bitcoin needs trading volume boost to rally above $105K in January

Some traders win millions despite crypto market corrections

Despite the current crypto market slump, some traders have been able to make millions. Bitcoin (BTC) has been trading below the $100,000 mark since Dec. 19, according to Cointelegraph Markets Pro data.

At the end of December, another trader made over $1.1 million in unrealized profit within two days on his 5x leveraged Ether (ETH) short position.

Short-selling involves borrowing the underlying cryptocurrency, selling it at the current price, and later repurchasing it at a lower price to capitalize on declining market trends.

Related: Redemption arcs of 2024: Ripple’s victory, memecoins’ rise, RWA growth

Other traders are taking advantage of the volatility of memecoins, despite their lack of intrinsic utility.

On Dec. 14, a crypto trader turned $27 into $52 million by capitalizing on the Pepe (PEPE) memecoin rally. This trader has held onto their initial investment for over 600 days

PEPE was the second-best performing cryptocurrency in the top 100 tokens in 2024, with over a 1,600% return during the year.

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