Blockchain tracking platform Lookonchain says a crypto trader has turned less than ten thousand dollars into millions in just one month by betting on a crypto project built in the Solana (SOL) ecosystem.

According to Lookonchain, the unidentified trader purchased the native token of the social finance (SocialFi) crypto project Launch Coin on Believe (LAUNCHCOIN) worth approximately $9,075 and turned it into $4.7 million, a 517x return.

Lookonchain further says another trader, pseudonymously known as Pow, has recorded an over 7x return on LAUNCHCOIN.

“From near zero to $2.7 million — absolute legend!

Three months ago, @traderpow spent 1,466 SOL ($367,000) to buy 17.66 million LAUNCHCOIN, only to watch it crash approximately 99%.

But he held on.

Now, with LAUNCHCOIN breaking a $150 million market cap, his 17.66 million LAUNCHCOIN is worth $2.7 million!”

The blockchain tracking platform is also highlighting a trader who recorded a loss running into hundreds of thousands of dollars following a slump in the price of LAUNCHCOIN about three months ago.

“If this trader had been more patient, he could have made $7.3 million instead of losing $800,000.

Three months ago, he bought 45 million LAUNCHCOIN near the top, spending approximately $828,000.

But shortly after, LAUNCHCOIN crashed by over 90%.

He sold all 45 million LAUNCHCOIN (now valued at $8.2 million) for only $29,000 at a loss of $800,000.”

LAUNCHCOIN is trading at $0.191 at time of writing, up by 7,000% from the May 8th low of $0.00269. LAUNCHCOIN currently ranks 316th by market cap, which is slightly over $195 million.

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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.

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A prominent on-chain analytics firm says the 10 largest Bitcoin exchange-traded funds (ETFs) witnessed massive inflows over the past week as BTC surged above $90,000.

On the social media platform X, Lookonchain says the Bitcoin ETFs saw net inflows of 29,321 BTC worth $2.78 billion in just seven days.

Net inflows refer to the number of coins entering an ETF minus outflows or coins leaving the investment vehicle.

The analytics firm also notes that nine Ethereum ETFs witnessed positive total net inflows last week to the tune of 20,518 ETH worth $36.5 million.

Says Lookonchain,

“Apr 25 Update:

10 Bitcoin ETFs:
NetFlow: +5,037 BTC (+$477.93 million)
iShares(Blackrock) inflows 3,500 BTC($332.07 million) and currently holds 586,164 BTC($55.62 billion).

Nine Ethereum ETFs:
NetFlow: +31,199 ETH (+$55.5 million)
iShares (Blackrock) inflows 22,704 ETH ($40.39 million) and currently holds 1,184,959 ETH ($2.11 billion).”

Meanwhile, data from the crypto investment research platform SoSoValue shows that as of April 25th, investors have poured a total of $109.27 billion into US Bitcoin ETFs and $6.14 billion into US Ethereum ETFs.

At time of writing, Bitcoin is trading for $94,879 while Ethereum is worth $1,837.

Lookonchain is also keeping a close watch on the fundamentals of the layer-1 protocol Sui (SUI) after the altcoin went on a rampage last week.

“The SUI price has surged by 60% in the past week.

What is driving the rise of SUI?

TVL has increased by 38% in the past week to $1.645 billion.

DEXs (decentralized exchanges) Volume (24 hour) has reached $599 million, a 177% increase from last week.

Stablecoins on Sui have grown rapidly over the past two months, rising from $482 million to $879 million, an 82% increase.”

At time of writing, SUI is trading at $3.53.

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Crypto firm Galaxy Digital is executing an asset swap involving the native tokens of layer-1 blockchains Ethereum (ETH) and Solana (SOL), according to on-chain data.

Data from blockchain tracking platform Lookonchain suggests that Galaxy Digital has, over the past two weeks, sold Ethereum worth tens of millions of dollars and purchased Solana.

“In the past two weeks, Galaxy Digital deposited 65,600 ETH ($105.48 million) to Binance and withdrew 752,240 SOL ($98.37 million) from Binance.”

Galaxy Digital’s portfolio reorganization is coming amid the firm’s head of research, Alex Thorn, predicting that the US will purchase Bitcoin (BTC) this year to add to the Strategic Bitcoin Reserve (SBR) launched in March. According to Thorn, one of the options the US could exercise to purchase the flagship crypto asset in a budget-neutral way would be to swap confiscated altcoins into Bitcoin.

“To be specific, you could sell an altcoin in an altcoin/BTC pair and never touch cash at all. No cash ever has to flow into the [US] general treasury. Could be an easier way to get to a ‘promises made, promises kept’ on the SBR.”

Ethereum is trading at $1,630 at time of writing, down by 67% from the all-time high reached in November of 2021. Solana is changing hands at $140 at time of writing, down by 52% from the record high hit in January.

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A long-dormant Ethereum wallet inked $8.66 million in profits after selling 5,001 ETH it purchased back in 2017.

The crypto tracker Lookonchain notes the address acquired 5,001 Ethereum for $1.38 million in 2017, back when ETH cost only $277.

The wallet held its Ethereum trove through multiple bull runs, including when ETH hit its all-time high of $4,878 in November 2021. At that high point, the Ethereum holder would have made $23 million in profit had they sold.

The wallet sold 3,000 Ethereum in early March and hawked the remaining 2,001 ETH earlier this week, according to the crypto data platform Arkham.

Ethereum is trading at $1,882 at time of writing. The second-ranked crypto asset by market cap is down nearly 2% in the past 24 hours and more than 6% in the past seven days.

Lookonchain also notes that crypto whales have been selling Aave (AAVE), a top decentralized lending protocol built on Ethereum.

One whale deposited 30,001 AAVE worth $4.98 million to the digital assets prime brokerage FalconX. Another deposited 11,018 AAVE worth $1.86 million to the crypto exchange OKX at a loss of $293,000.

AAVE is trading at $157.39 at time of writing. The 52nd-ranked crypto asset by market cap is down more than 6% in the past 24 hours and nearly 12% in the past seven days.

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A crypto whale is booking millions of dollars in losses after a long position on the Official Trump (TRUMP) turned against him, onchain data reveals.

According to blockchain tracking platform Lookonchain, the whale liquidated his position in the TRUMP memecoin at a loss of $24.4 million.

The blockchain-tracking platform says the whale acquired 763,582 TRUMP tokens about a month ago at a price of $33.9 million but has now sold the stash at approximately $9.48 million. Per Lookonchain, the whale had previously turned a profit on the memecoin before the loss-making trade.

“This whale had already made $11.8 million on TRUMP before.

After tasting success, he spent another $33.9 million to buy TRUMP.

However, after his purchase, TRUMP kept dropping.

After holding for a month, he capitulated—losing not only all his profits but also $12.6 million of his initial capital.”

TRUMP is trading at $13.06 at time of writing, down by around 82% from the all-time high price it reached last month.

The TRUMP memecoin, which is billed as President Donald Trump’s only official meme asset, was launched three days before the January 20th inauguration. On the eve of the inauguration, the memecoin which is built in the Solana (SOL) ecosystem reached an all-time high price of around $73.45.

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