Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Trader Books 6,208% Profit in Just Four Days on MELANIA Memecoin: Lookonchain

Blockchain tracking firm Lookonchain says one crypto trader is looking at multi-million dollar profits after trading the official memecoin of Melania Trump, wife of US President Donald Trump. According to Lookonchain, the trader scooped up 5.2 million Melania ( MELANIA ) at just $0.13 per coin right after the digital asset’s launch on Sunday – the day before Trump’s presidential inauguration. Four days later, the trader had sold off every MELANIA token for a gain of 6,208% on the initial investment of $688,000, racking in a $42.7 million profit. “This guy has sold all MELANIA, making a total profit of $42.7 million (62x)! He spent 2,500 SOL ($688,000) to buy 5.2 million MELANIA at $0.13, and sold all of them at an average price of $8.34 for $43.4 million, making a profit of $42.7 million, a 62x return!” Lookonchain also noticed another trader saw massive gains after being an early investor in MELANIA. “This guy made an incredible $66 million+ on MELANIA in just for hours! [On Sunday], this guy spent 2,500 SOL ($688,000) to buy 5.02M MELANIA, then sold 203,000 MELANIA for 2.14 million USDC, leaving 5 million MELANIA, worth $64.9 million!” First Lady Melania Trump launched her own memecoin a day after then President-elect Trump had launched his. MELANIA is trading for $2.76 at time of writing, down 19.5% in the last 24 hours. The Solana ( SOL )-based memecoin has a market cap of $413.8 million, making it the 227th largest crypto project. Meanwhile, Official Trump ( TRUMP ) is trading for $33.19 at time of writing, down 13.6% on the day. With a market cap of $6.6 billion, the SOL-based memecoin is the 30th largest crypto project. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Books 6,208% Profit in Just Four Days on MELANIA Memecoin: Lookonchain appeared first on The Daily Hodl . Decrypt

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Nasdaq Files for In-Kind Redemptions for BlackRock Spot Bitcoin ETF

Nasdaq has filed a proposed rule change to allow in-kind creation and redemption for the BlackRock iShares Bitcoin Trust (IBIT), according to a Friday filing to the U.S. Securities and Exchange Commission (SEC). The process allows large institutional investors, called authorized participants (APs), to buy and redeem shares of the fund directly to bitcoin (BTC). It is considered to be more efficient as it allows APs closely monitor the demand for the ETF and to act fast by buying or selling shares of the fund without cash being involved in the process. Retail investors are not eligible to participate. When the SEC first approved spot bitcoin ETFs including IBIT last January, the agency allowed to launch the funds with cash redemption, instead of bitcoin. "It should have been approved in the first place but Gensler/Crenshaw didn`t want to allow it for a whole host of reasons they gave," Bloomberg Intelligence ETF analyst James Seyffart wrote on X . "Mainly [they] didn`t want brokers touching actual Bitcoin." BlackRock`s IBIT is the largest spot BTC ETF on the market, attracting nearly $40 billion of inflows in its first year, making it the most successful ETF debut ever. Decrypt