Despite having no intrinsic value, memecoins have created many new millionaires among crypto investors.
A cryptocurrency trader has reportedly turned a $27 investment in the Pepe memecoin into an extraordinary $52 million profit, according to blockchain analytics firm Lookonchain.
An unknown Pepe (PEPE) trader bagged the life-changing profits, crypto intelligence firm Lookonchain revealed in a Dec. 14 X post.
Savvy Pepe trader transaction. Source: Lookonchain
A trader who lost $25 million after accidentally copying and pasting the wrong transfer address is offering a $2.5 million reward to white hackers in the hopes of getting their money back.
A trader who recently revealed they had lost $25 million back in June after copying in the wrong deposit address says the experience has been “max pain.”
Pseudonymous crypto investor qklpjeth told Cointelegraph that they accidentally transferred 7,912 Renzo restaked ETH (ezETH) — worth $26.4 million at current prices — to a safe contract address on June 19.
Unfortunately, they said they entered the incorrect address and sent the funds to a safe module instead of his own safe, meaning that the tokens were “locked and unable to be withdrawn.”
The unknown crypto trader only invested $3,000 into a new Solana-based memecoin before its price rally.
A savvy cryptocurrency trader has profited over $9 million on his initial altcoin investment, showcasing the potential of memecoin trading.
The savvy trader made a 3,000-fold return on his investment in the Solana-based Numogram (GNON) token, a low-market capitalization memecoin launched on Oct. 17.
The savvy trade was flagged by onchain intelligence firm Lookonchain in an Oct. 20 X post:
Despite coming up short of his goal, crypto trader Thomas Kralow said the crypto-funded expedition was all about two things: “Bitcoin and happiness.”
A Bitcoin proponent’s recent attempt to crypto trade his way from New York to Alaska has come to a sudden and bitter end — some 900 miles from his final destination.
Thomas Kralow, a crypto trader and educator recently set himself the daring task of traveling from one side of the United States to the other funded solely by trading crypto.
On Aug. 12, Kralow set out from New York with his assistant Ilya and an initial budget of $5,000 cash.
The pair forked out some cash for a dinged-up Mercedes and set up a Starlink antenna on the back of the vehicle — with fast internet being a requirement for quick trades — leaving them with just $2,500 to trade their way to Alaska.
Unfortunately for Kralow, he never made it to his final destination — with his oil-starved vehicle grinding to a permanent halt in Seattle, just 12 days after starting the journey.
Speaking to Cointelegraph, Kralow shared some details of the trip that didn’t make it into the 6-episode YouTube series where he documented the daily happenings of the crypto-fuelled voyage.
Kralow said that despite the trip being riddled with “insanely scary” lightning storms, wildfires, car troubles, theft, and navigating a constantly changing landscape in a foreign country on a razor-thin budget — the biggest challenge of the entire journey was actually the trading itself.
“We had like $2,500 our initial trading deposit and we had approximately $300 per day in expenses, which means everyday we had to earn like 12 to 14%,” he said.
“Anyone who is into the world of finance would think it's just suicide, which it kind of was. I was very open from the start and I just said, ‘listen, if I blow the account, it's just going to be done.’”
Despite the odds being firmly stacked against him, Kralow explained that it didn’t matter all that much that it was a potential suicide mission. While he admitted that some of the motivation behind the journey was growing his social media following, he said that he only wanted viewers to take away two things.
“It’s all about happiness and Bitcoin.”
“In these videos, I just wanted to show how important it is to lead a fulfilled and grateful life, as well as sharing knowledge about the most incredible industry and asset which is Bitcoin and blockchain.”
Kralow, who routinely flaunts his wealth across his various social media channels, described the journey as a “kind of humbling” experience, saying that it helped take him back to his roots and reminded him of growing up in a home that was pretty far from wealthy.
“I just wanted to level with the world basically, go back to where I came from, and really just enjoy it again.”
Notably, Kralow said that the most surprising part of the entire adventure was the level of crypto literacy present in completely unexpected parts of the U.S.
“I met this welder in Louisiana, and we had such a great conversation about the Southern part of the United States and Bitcoin. He was driving a truck and chewing tobacco and spitting on the ground and it really shocked me how well-educated he was on Bitcoin.”
Related: Bitcoin gains legal recognition as digital currency in Shanghai, China
This stood in stark contrast to Kralow’s experience in more tech-savvy parts of the states like Silicon Valley, where he said he expected more knowledge around the concept of Bitcoin and cryptocurrencies.
“And then we meet this other guy who presented as this stereotypically smart, well-dressed person in California, and he knew nothing about crypto or Bitcoin. We were talking about our trip and he just asked us ‘oh, what even is Bitcoin?’”
The next order of business for Kralow after wrapping up the trip was lodging a request with Guiness Book of World Records.
Our #Bitcoin world record application is in pic.twitter.com/5dW2yN0QFf
— Thomas Kralow (@TKralow) September 26, 2023
“A lot of people have driven from wherever to wherever, but I’m pretty sure no one has ever driven more than 5,000 miles while surviving only on earnings from trading Bitcoin or crypto.”
Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in
A French crypto trader, Thomas Clausi, is currently jailed in Morocco where he was convicted of the crime of purchasing a Ferrari using bitcoin. Clausi’s arrest and subsequent jailing came after a woman, who sold him a Ferrari for $440,000 in April 2021, filed a complaint against the crypto trader when the price of the […]
Spanish law enforcement recently nabbed three individuals who befriended and eventually kidnapped a Syrian cryptocurrency dealer. Following their arrest, the kidnappers, who were demanding a ransom of over $1.1 million, were found in possession of weapons and fake identity documents. Syrian Crypto Dealer’s Captors Were His Party Friends Spanish law enforcement recently freed a Syrian […]
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an […]
A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader Tries to Challenge Fine in Belarusian Court The Supreme Court of the […]
Warren Buffett said that “What we learn from history is that people don’t learn from history.” Crypto traders can change that.
Before we get into the nitty-gritty of how one simple rule created the kind of insane return on investment noted in the headline — during one of the worst Crypto Winters in recent history — let’s be clear on one thing.
You can’t copy this now.
But anyone with access to Cointelegraph Markets Pro in 2022 could have. This is not a mere backtested strategy. It’s a real-life strategy — although you’re about to see historical results.
This is no longer a thought experiment or proof-of-concept; it is an actual way to make money in crypto trading.
For our purposes, it’s also a perfect way to illustrate how a simple strategy can work for real traders in real life — even during extreme market pullbacks.
So, let’s dig in. What could you do, right now, today, with this algorithm?
Here’s the basic premise. In partnership with data firm The Tie, Cointelegraph Markets Pro has developed the VORTECS™ Score, an algorithmic determination of how bullish or bearish current trading conditions are for a given crypto asset.
The score is based on historical data, and it essentially sifts through the whole history of a coin or token looking for conditions that are similar to those it observes right now.
It’s looking for a variety of similarities and outliers — for instance, trading volume, recent price action, social sentiment and even the volume of tweets about that asset.
If it finds similarities, it looks at what happened next. Did the asset go up or down? How consistent was that movement? How significant was the rise or fall?
Combining all of these data points, Markets Pro creates the VORTECS™ Score, a dynamic and constantly evolving evaluation of the current trading conditions for each supported asset. The higher the score, the more bullish the outlook — and the more confident the algorithm is.
Conversely, a very low score is bearish (with equal confidence). A neutral score of 50 means the algorithm sees no significant correlation between current conditions and past price performance.
The Markets Pro platform offers a whole range of strategies to traders.
A “Buy 85, Sell 80” strategy means that a trader can buy an asset that crosses the 85 score, which is considered strongly bullish. And then “sell” the asset once it goes below the score of 80.
Of course, this is happening live on an exchange. Or a trader can simply “paper trade” the asset to test the algorithm out.
For instance — if Solana’s SOL crossed 85, and was the sole asset with that high score, the trader could place a percentage of their current portfolio into SOL. But if Binance’s BNB then crossed 85 as well, the trader could allocate some other percentage of their portfolio to BNB. Or not. The choice is theirs.
The point here is to evaluate whether the VORTECS™ algorithm is good at its job.
When it sees bullish conditions, is it right more often than not? When the score goes up, do prices generally increase? Obviously, the answer is yes.
The Buy 85, Sell 80 is only one strategy. There are other strategies that have created a massive return on investment in 2022.
For instance, Buy 90, Sell 85. That one is sitting on gains of +96.89% in 2022. Even stronger strategies include:
Buy 90, Sell 90 | +159.15%
Buy 85, Sell 75 | +102.65%
In fact, Bitcoin (BTC) returned -65% since the start of 2022 and Ether (ETH) fared no better with returns of -68% while VORTECS™-based strategies averaged +81.50% across the board beating the pants off BTC and ETH respectively.
And that signals that VORTECS™ is working correctly. It is — in general, over time — proving that historical trading conditions for digital assets can be a useful gauge for the current health of that asset.
In other words, a high VORTECS™ Score has a proven correlation to price appreciation. Not in every instance, not for every asset… but in general, the results in 2022 have made a compelling case.
Warren Buffett (perhaps paraphrasing Georg Wilhelm Friedrich Hegel) once said that “What we learn from history is that people don’t learn from history.”
(As a crypto skeptic, he might want to revisit his stance.)
That’s what the VORTECS™ Score is all about. Learning from history. And that’s why a real return of 176.31% right in the middle of one of the worst Crypto Winters in the market’s history is important.
It tells us we’re looking at the right history.
Cointelegraph Markets Pro is available exclusively to members on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.
Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.
All ROIs quoted are accurate as of 8:00 am UTC on Nov. 17, 2022
Despite his initial losses in trading, JC Enriquez still strongly believes that crypto will bring him more profit in the years to come.
From the highs of feeling like a total genius to the lows of downward price movements, crypto investing has taken Dubai-based trader JC Enriquez on a roller coaster ride.
In an interview with Cointelegraph, Enriquez shared his crypto trading journey, starting from his first encounter with digital assets. According to the trader, it all started when a friend asked him about his plans for the future. After sharing his dreams about the future, the friend told him that if he wanted to make those plans come true, he “better study cryptocurrency, buy some and hold it.”
Hyped by the bull market in 2021, Enriquez finally decided to jump in and start trading. However, his first crypto rodeo was less than fruitful. He told Cointelegraph that he invested thousands of dollars in one project and then it went to zero in just a short period of time. He explained that:
“After a few weeks, I was surprised. Their network got grumpy and then slowly, they stopped doing developments in their project. After that, it permanently closed.”
When asked how he felt, Enriquez shared that the loss was devastating as it was money that he and his partner was saving for emergencies. However, thinking that he will be able to gain it back quickly, Enriquez convinced his partner to let him take the risk. He said that:
“When I bought it first I felt like I was a genius because I believed in the project. And when the project went grumpy and suddenly stopped everything, for me, it was like the end of the world.”
Despite the results of his first try, the trader did not lose hope in blockchain and crypto. “I consider it as an experience so that next time around, I will be more careful, more vigilant in trading,” he said.
Related: Employee quits after red flags at first crypto job, stays in blockchain for the tech
According to Enriquez, he still believes in crypto because of developments in Bitcoin (BTC) adoption like fashion brands and airlines accepting BTC. Apart from that, he has faith on crypto’s inherent features like allowing easier cross-border payments. Despite his initial losses, Enriquez still believes that crypto will bring him more profit in the future. He mentioned that:
“I still believe in a dream that cryptocurrency will give me more profit in the years to come and will help me build my dreams in the future.”
Learning from his experience, the trader also shared that he now has a new game plan for trading crypto. He said that he learned strategies like dollar-cost averaging and has been learning to read graphs and indicators. He also shared that he now does extensive research before investing into crypto tokens.
