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Crypto Trader Nets 25x Profit on Solana-Based Memecoin That’s Exploded Over 1,200% in Three Weeks: On-Chain Data

Crypto Trader Nets 25x Profit on Solana-Based Memecoin That’s Exploded Over 1,200% in Three Weeks: On-Chain Data

One lucky trader is looking at huge profits after one Solana (SOL)-based memecoin soared over 1,200% in just three weeks, according to on-chain data. Blockchain tracking firm Lookonchain says that one pre-sale participant in Beercoin (BEER) just made off with more than $1 million in profit. “A BEER pre-sale participant is selling BEER, and he […]

The post Crypto Trader Nets 25x Profit on Solana-Based Memecoin That’s Exploded Over 1,200% in Three Weeks: On-Chain Data appeared first on The Daily Hodl.

Kraken and Koinly extend partnership to demystify tax reporting

Iggy Azalea’s anti-scam plan and crypto losses from hacks decline by 12%: Finance Redefined

In a bold move to combat crypto scams, Iggy Azalea pledges to burn her own coins.

The past week in decentralized finance (DeFi) land saw another memecoin frenzy, with celebrities launching their own memecoins — quite a trend shift from 2021–2022 when they launched their own nonfungible tokens (NFTs). Among all the meme hysteria, pop star Iggy Azalea devised a “burning” plan to evade frauds and rug pulls.

In other news, a trader who lost 1,807 liquid-staked Ether (ETH) worth $6.91 million appears to have received a large share of the stolen funds back from scammers. A new report from Immunefi revealed that crypto losses linked to hacks and frauds declined by 12% year-over-year in May.

The top 100 DeFi tokens had a mixed week as price momentum remained sideways where most tokens traded in green and the total value locked in DeFi contracts remained above $100 billion.

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Kraken and Koinly extend partnership to demystify tax reporting