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Crypto Trader Turns AI Coins Into $17 Million
A crypto trader with a keen eye for artificial intelligence (AI) projects has reportedly amassed profits exceeding $17 million from several AI-focused tokens. On-chain data now indicates a strategic pivot towards emerging memecoins. According to Lookonchain’s analysis shared on X, the trader’s significant profits were primarily derived from early investments in tokens such as GOAT, ai16z, Fartcoin, and ARC.
Major Profits from Strategic Investments
Lookonchain reports via X, “What a smart AI coin trader! Profits exceeded $5.14M on GOAT. Profits exceeded $4.5M on ai16z. Profits exceeded $4M on Fartcoin. Profits exceeded $4M on ARC. Let’s take a look at which tokens he is buying.”
GOAT: The Major Win
The trader’s most substantial gain reportedly came from GOAT. He strategically entered the market when GOAT’s overall market cap was below $2 million, investing around $62,000 to acquire roughly 11.1 million GOAT tokens. As GOAT’s value skyrocketed, he sold his entire holding for approximately $5.2 million, netting an estimated profit of $5.14 million.
Impressive Gains with ai16z
The trader’s performance with ai16z, a decentralized AI-powered trading fund on the Solana blockchain, is equally noteworthy. He invested $123,000 to purchase 6.17 million tokens when the market cap was $22 million. Data from Lookonchain indicates he sold 4.67 million ai16z tokens at around $1.78 each while retaining 2.65 million tokens currently valued at nearly $2.9 million. This transaction alone resulted in profits exceeding $4.5 million.
Fartcoin: A Lucrative Venture
Further analysis highlights significant gains from Fartcoin. The trader initially bought the token at a market cap under $7 million, spending $121,000 for approximately 9.46 million tokens. He subsequently sold 6.81 million of these tokens for $610,000 while keeping 2.65 million tokens valued collectively at $3.55 million, achieving a net profit of roughly $4 million.
ARC: Another Success Story
In a similar vein, his position in ARC showcased another profitable venture. Investing $212,000 to acquire 11.6 million ARC tokens when the project’s market cap was around $15 million, he sold 1.6 million tokens for $212,000. He currently holds 10 million ARC tokens worth about $4 million, resulting in yet another $4 million profit.
Exploring New Horizons: Memecoins
Lookonchain also details the trader’s recent strategic investments into several smaller-cap memecoins, including CREATE, PIPPIN, SANDY, MOLE, and FORGE. A screenshot shared by Lookonchain reveals that he financed part of these purchases by selling Fartcoin in two batches of 25,000 units for $31,446.35 and $29,681.37, respectively.
Additional funds appear to have been secured through the sale of Wrapped SOL (WSOL) in multiple transactions, including 100 units for $21,611, 50 units for $10,805.50, and 153 units for $33,069.42. This distribution suggests a methodical approach to securing liquidity before deploying funds into the memecoins.
Investment Allocation in Memecoins
The trader allocated a total of $202,255 to acquire stakes in these emerging memecoins. He invested $61,127 in CREATE, $21,611 in PIPPIN, $21,611 in SANDY, $65,486 in MOLE, and $32,420 in FORGE.
As of the latest update, GOAT is trading at $0.52, showcasing the ongoing dynamic nature of the crypto market.
By continuously adapting his investment strategy and exploring new opportunities, this crypto trader exemplifies the potential profitability and volatility inherent in the rapidly evolving cryptocurrency landscape.
Featured image from iStock, chart from TradingView.com
