Lone Sniper Hits $7 Million Jackpot, Trio of Traders Net $1 Million Apiece During SAVM Crypto Launch
A recent report from Arkham Intelligence has revealed that the launch of the satoshivm (SAVM) token two days ago resulted in three skilled crypto traders, known as 'snipers,' each earning a profit of $1 million. The most proficient sniper achieved an astonishing gain of over a million dollars in under 40 minutes.
The recent satoshivm (SAVM) launch proved to be profitable for crypto snipers, according to Arkham Intelligence. Sniping refers to the practice of executing crypto trades quickly and accurately to gain a strategic advantage. This strategy involves setting parameters for immediate purchasing upon the launch of a new token and utilizing automated trading bots. Market data from coingecko.com shows that SAVM initially debuted at $6.83 per unit and is currently trading between $9.48 and $14.13 in the past day.
Arkham stated, "When SAVM launched 2 days ago, over $3 [million] of ETH attempted to snipe the token as soon as liquidity was deployed. It was a knife fight – with the top 3 most successful snipers all making over $1 [million] each, in under 12 hours. The largest sniping address, 0x278, bought 2 million SAVM for [$333,000], selling it over the next half an hour for a total of $1.7 [million]." Arkham added that despite paying $350,000 to get their transaction into the block, this sniper made over a million dollars in just 40 minutes.
Profitable Sniping Strategies
Arkham detailed that the second-largest participant invested $220,000, acquiring 450,000 SAVM tokens. However, this trader incurred an expense of nearly $300,000 to pay the block builder for transaction inclusion. In total, this trader made slightly over $1 million in profits and still holds SAVM tokens valued at $120,000.
The remaining snipers distributed their purchases among five different accounts and bought approximately 15 ETH each. This strategy required an investment of 90 ETH to secure 191,000 SAVM tokens. Over the next nine hours, these tokens were progressively sold, resulting in a yield of 618.4 ETH, equivalent to $1.5 million. Additionally, Lookonchain revealed that another sniper made a profit of nearly $7 million from their sniping activities.
In just three hours, a single trader realized a staggering $6.77 million profit from trading SAVM. This individual leveraged the Bananagun trading bot and paid a substantial bribe fee of 141.66 ETH to secure the advantageous position of being the first purchaser of SAVM on its opening day. The trader acquired 2.61 million SAVM, incurring a total expense of 277.66 ETH, approximately $681,000.
The Debate Around Crypto Sniping
There is ongoing debate surrounding the practice of crypto sniping, particularly concerning the use of sniper bots in trading. The use of these bots is controversial and raises concerns about market integrity and potential manipulative practices. Sniper bots may provide unfair advantages in the market, leading to price distortions and leaving individual traders at a disadvantage.
While it is a complex topic, supporters of sniping argue that it is a groundbreaking approach that comes with risks unfamiliar to many traditional traders. Bot trades may not always succeed, transactions can fail, and market responses can be unpredictable. Employing sophisticated tools like sniper bots requires boldness, tactical skill, and sometimes significant investments to gain an edge in the highly competitive crypto trading arena.
What are your thoughts on the practice of crypto sniping? Share your opinions in the comments section below.
Frequently Asked Questions
Should You Buy Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. Today, many people are looking to precious metals like gold and avoiding traditional investments like bonds and stocks.
Although gold prices have shown an upward trend in recent years, they are still relatively low when compared to other commodities like oil and silver.
This could be changing, according to some experts. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also note that gold is increasingly popular because of its perceived intrinsic value and potential return.
These are some things you should consider when considering gold investing.
- Before you start saving money for retirement, think about whether you really need it. You can save for retirement and not invest your savings in gold. However, you can still save for retirement without putting your savings into gold.
- Second, make sure you understand what you're getting yourself into before you start buying gold.There are several different types of gold IRA accounts available. Each offers varying levels of flexibility and security.
- Last but not least, gold doesn't provide the same level security as a savings account. It is possible to lose your gold coins.
You should do your research before buying gold. And if you already own gold, ensure you're doing everything possible to protect it.
Who is the owner of the gold in a gold IRA
An individual who has gold is considered to be a “form of money” by the IRS and subject to taxation.
To take advantage of this tax-free status, you must own at least $10,000 worth of gold and have been storing it for at least five years.
Gold can be used to protect against inflation and price volatility. However, it is not a good idea to own gold if you don't intend to use it.
If you plan to eventually sell the gold, you'll need a report on its value. This could impact the amount of capital gains taxes your owe if you cash in your investments.
It is a good idea to consult an accountant or financial planner to learn more about your options.
What are the pros & con's of a golden IRA?
An Individual Retirement Plan (IRA) has a major advantage over regular savings accounts. It doesn't tax any interest earned. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. There are some disadvantages to this investment.
To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. The IRS may prevent you from taking out your IRA funds until you reach 59 1/2. If you do decide to withdraw funds from your IRA, you'll likely need to pay a penalty fee.
A disadvantage to managing your IRA is the fact that fees must be paid. Many banks charge between 0.5% and 2.0% per year. Others charge management fees that range from $10 to $50 per month.
Insurance will be required if you would like to keep your cash out of banks. Most insurers require you to own a minimum amount of gold before making a claim. It is possible that you will be required to purchase insurance that covers losses of up to $500,000.
If you are considering a Gold IRA, you need to first decide how much of it you would like to use. Some providers limit the amount of gold that you are allowed to own. Others allow you the freedom to choose your own weight.
You will also have to decide whether to purchase futures or physical gold. Gold futures contracts are more expensive than physical gold. However, futures contracts give you flexibility when buying gold. Futures contracts allow you to create a contract with a specified expiration date.
It is also important to choose the type of insurance coverage that you need. The standard policy doesn't include theft protection or loss due to fire, flood, or earthquake. It does offer coverage for natural disasters. If you live in a high-risk area, you may want to add additional coverage.
In addition to insurance, you'll need to consider the cost of storing your gold. Insurance won't cover storage costs. In addition, most banks charge around $25-$40 per month for safekeeping.
Before you can open a gold IRA you need to contact a qualified Custodian. A custodian is responsible for keeping track of your investments. They also ensure that you adhere to federal regulations. Custodians can't sell assets. Instead, they must retain them for as long and as you require.
After you have decided on the type of IRA that best suits you, you will need to complete paperwork detailing your goals. Your plan should include information about the investments you want to make, such as stocks, bonds, mutual funds, or real estate. Your monthly investment goal should be stated.
After completing the forms, send them along with a check or a small deposit to your chosen provider. Once the company has received your application, they will review it and send you a confirmation email.
A financial planner is a good idea when opening a gold IRA. A financial planner is an expert in investing and can help you choose the right type of IRA for you. They can help reduce your expenses by helping you find cheaper alternatives to buying insurance.
Statistics
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
finance.yahoo.com
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- You want to keep gold in your IRA at home? It's Not Exactly Legal – WSJ
bbb.org
cftc.gov
How To
The History of Gold as an Asset
From the beginning of history, gold was a popular currency. It was universally accepted due to its purity and divisibility, beauty, scarcity, and durability. Due to its value, it was also internationally traded. However, since there were no international standards for measuring gold at this point, different weights and measures existed worldwide. For example, one pound sterling in England equals 24 carats; one livre tournois equals 25 carats; one mark equals 28 carats; and so on.
In the 1860s, the United States began to issue American coins made from 90% copper, 10% Zinc, and 0.942 Fine Gold. This led to a decrease of demand for foreign currencies which in turn caused their prices to rise. At this point, the United States minted large amounts of gold coins, causing the price of gold to drop. The U.S. government was unable to pay its debts due to too much money being in circulation. They decided to return some of the gold they had left to Europe.
Since most European countries were not confident in the U.S. dollar they began accepting gold as payment. However, after World War I, many European countries stopped taking gold and began using paper money instead. The price of gold rose significantly over the years. Even though gold's price fluctuates, it is still one of the most secure investments you could make.
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By: Jamie Redman
Title: Crypto Snipers Strike Gold as Traders Earn Millions in SAVM Token Launch Frenzy
Sourced From: news.bitcoin.com/crypto-snipers-strike-gold-as-traders-earn-millions-in-savm-token-launch-frenzy/
Published Date: Sun, 21 Jan 2024 23:30:31 +0000
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