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Crypto trader turns $90 into $3.25 million in just two days

A cryptocurrency trader has recorded an extraordinary 36,067-fold return on their investment by betting on a new Solana ( SOL ) meme coin, Unicorn Fart Dust (UFD). The trader initially invested 0.4 SOL, equivalent to $90.28, to purchase 12,980,490.53 UFD tokens. Over the course of 48 hours, the trader executed two significant swaps. First, exchanging 50,000 UFD for 13.27 wSOL, valued at $2,856.51. Then, swapping 30,490.53 UFD for 7.96 wSOL, worth $1,713. The remaining 12.9 million UFD tokens were valued at $3.25 million. The trader’s initial purchases of UFD. Source: Solscan However, this valuation hinges on market liquidity and demand, as meme coins like UFD are known for their extreme volatility and limited market depth, making such gains challenging to fully realize. UFD token – A meme coin born from humor Unicorn Fart Dust was created as a commentary on the speculative nature of cryptocurrencies. Its very existence is satirical, poking fun at the ease with which digital assets can surge in value without any underlying utility. Despite its humorous beginnings, the token quickly became a viral sensation, ranking as the second most traded on-chain asset within 48 hours of its launch, surpassed only by major market players. ???? New: YouTuber @BasementRon , known for his gold and silver content, created the “Unicorn Fart Dust” ($UFD) token to mock crypto and prove a point that crypto is worthless. In 2 days, $UFD hit a $240M market cap, becoming the 2nd most traded on-chain asset in the last 24 hours. pic.twitter.com/aqPCXQDLUi — SolanaFloor (@SolanaFloor) December 19, 2024 While UFD’s success is undeniably fascinating, it also raises broader questions about the appetite for speculative investments in the cryptocurrency space. Investors were drawn to UFD purely for its entertainment value, yet its meteoric rise shows a deeper phenomenon—the willingness of market participants to chase high-risk assets for the promise of outsized rewards. By press time, UFD was trading at $0.1742 with a market capitalization of $174 million. Moreover, investing in coins like UFD also exposes investors to other risks, such as the lack of liquidity, potential rug pulls, and death spirals that are occasionally seen in these financial bubbles that surge from time to time. Featured image via Shutterstock The post Crypto trader turns $90 into $3.25 million in just two days appeared first on Finbold .

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ARK Invest Reduces Coinbase Holdings Amid Market Fluctuations and Bitcoin Price Drop

ARK Invest’s recent sale of Coinbase stock signals a shift in strategy amidst a volatile crypto landscape, as Bitcoin experiences significant price fluctuations. This move highlights ARK Invest’s responsiveness to Finbold

Bitcoin ETF Inflows Surge by 168% Crossing $35 Billion Milestone

The inflow into Bitcoin exchange-traded funds (ETFs) has experienced an impressive surge, reaching a new milestone on December 12. Bitcoin ETFs saw a significant increase of nearly 168%, pushing total net inflows to surpass $35 billion for the first time. This surge marks an 11-day streak of continuous inflows, reflecting growing investor confidence in Bitcoin and other cryptocurrencies as viable investment options. 1. Crypto Everywhere: A Growing Trend The rise of Bitcoin and other cryptocurrencies has also impacted various industries, including the iGaming sector and online casinos. Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have become popular payment methods in online gambling due to their security, low fees, and ability to offer fast cross-border transactions. Players and operators alike appreciate the privacy of digital currencies, for example, at a crypto casino, no KYC checks are required when signing up. It’s a more discreet way to engage in transactions than traditional payment methods while retaining all of the benefits of an online casino. The video gaming industry has seen a rise in play-to-earn games that all accept crypto as payments, have their unique cryptocurrencies made, and/or even provide various crypto as a form of reward and payment for the best gamers. The global play-to-earn games market size was $1.35 billion in 2024 and is expected to reach $6.32 billion by 2032, so we will see how this rising trend unfolds. 2. Bitcoin ETF Inflows Hit Record High According to data from SoSoValue, Bitcoin ETFs saw $597.57 million in inflows on December 12, significantly higher than the $223.03 million from the previous day. This nearly 168% increase is a notable leap in the market, bringing total net inflows into Bitcoin ETFs to $35.17 billion, a record figure. The trend of inflows has continued consistently for several weeks, signaling that institutional investors are increasingly adopting Bitcoin as part of their portfolios. Many of these inflows have been directed toward BlackRock’s Bitcoin ETF , the iShares Bitcoin Trust (IBIT), which saw $431.6 million in new investments. BlackRock, the world’s largest asset manager, has seen its total net flows reach $35.49 billion since the fund’s inception, further solidifying its position in the growing Bitcoin investment space. 3. Grayscale’s GBTC Fund Sees Outflows Despite the overall positive momentum in the Bitcoin ETF market, Grayscale’s GBTC fund was the exception, reporting outflows of $48.4 million on December 12. This was the only fund to experience a negative net flow on the day. However, this did not overshadow the overall growth in Bitcoin ETFs, as most funds continued to see a steady rise in investor interest. 4. Bitcoin Trading Volumes and Price Movements The total trading volume for Bitcoin ETFs on December 12 reached $3.15 billion, after previously topping 3 trillion , but is now slightly down from the previous day’s $3.97 billion. Bitcoin was trading at $99,985 per coin at the time of the report, reflecting a minor 0.7% decline from the previous day. Despite the slight dip in price, the significant increase in ETF inflows demonstrates a positive outlook from investors focused on long-term growth rather than short-term price fluctuations. 5. Ethereum ETF Inflows Rise Sharply Ethereum ETFs have also witnessed impressive inflows, with a reported $273.67 million on December 12, marking a 168% increase compared to the previous day. BlackRock’s ETHA fund captured the largest share of this growth, attracting $202.31 million in investments. Other Ethereum-focused funds, including Grayscale Ethereum Mini Trust and Fidelity’s FETH, also saw substantial inflows. 6. Ethereum Price and Market Trends At the time of reporting, Ethereum was trading at $3,917 per coin, showing little movement from the previous day’s price. While Bitcoin continues to dominate the cryptocurrency space, Ethereum’s position as the second-largest cryptocurrency by market capitalization is further solidified by the rise in its ETF inflows, indicating strong investor sentiment and belief in its long-term value. Finbold