Wild West? Whitelisted Crypto Wallets Make 3,000,000% Gains on Base Altcoin

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As an experienced financial analyst, I find the information presented in this text both intriguing and concerning. The astronomical returns achieved by two whitelisted wallets on the memecoin Brett is undeniably impressive, with gains of over 30,000 times their initial investment. However, the context surrounding these transactions raises red flags.

As a cryptocurrency market analyst, I’ve come across some remarkable data. Two specific cryptocurrency wallets experienced returns that surpassed an astounding 30,830x their initial investment on a memecoin that debuted on Coinbase’s Ethereum layer-2 scaling platform, Base.

Based on data from cryptocurrency analysis platform Lookonchain, two wallets authorized by the creator of the meme-themed token Brett ($BRETT) purchased approximately 172.56 million tokens using about 0.034 Ether, which is equivalent to around $100, during February.

As a researcher examining on-chain data, I discovered that certain wallets sold an impressive amount of 122.74 million BRETT tokens, converting them into 890.65 Ether or approximately $3.14 million. This transaction was executed through multiple wallets in order to yield a remarkable return of over $3,000,000.

Two wallets, identified as “0x1f72” and “0x8996,” managed to accrue a staggering profit of $3.14 million (890.65 $ETH) from an initial investment of just $102 (0.034 $ETH), resulting in a mind-blowing return on investment of approximately 30,830 times!— Lookonchain (@lookonchain) April 28, 2024

Approved wallets are those permitted to take part in particular cryptocurrency initiatives, like initial coin offerings (ICOs). A social media post highlighted that a sum of 139 addresses had been approved, and among them, 108 purchased tokens during the whitelist phase.

As an analyst, I’ve come across a pseudonymous user who claims to have identified the owner of a highly reputable cryptocurrency wallet. They assertively state that they “know who holds the keys” to this wallet and anticipate disclosing the information within the next few days.

According to their assessment, approximately 91% of the cryptocurrency’s total supply was in the possession of BRETT‘s insiders prior to other investors having the opportunity to purchase it. One influential figure is reported to have earned nearly $4.8 million worth of Ethereum (approximately 1600 ETH) by obtaining tokens during the marketing phase, which were later sold at the whitelist stage.

A discussion revolves around the questionable fairness of $BRETT‘s launch, as insiders reportedly held over 81% of its supply before the majority had a chance to buy in. Notably, individuals such as @InvestWithRex earned approximately 1600 ETH from marketing tokens they acquired during the whitelist phase.— shady (@shady_oak1) April 25, 2024

As a researcher, I’d put it this way: I, as an observer, label Brett, a notable figure in the Base chain community, at $0.0357 currently. This represents a significant decrease of over 11% within the last 24 hours. The price dip follows a prolonged period of memecoin trading activity on both the Solana and Base networks. During this time, several traders experienced substantial gains and losses from recently introduced digital assets.

As a successful crypto investor, I once came across an intriguing memecoin that experienced a remarkable surge in value – over 3000% within just 24 hours! Seizing the opportunity, I put my faith and $9,000 worth of SOL on the line. The investment paid off handsomely as the coin’s price continued to rise, resulting in a substantial profit of approximately $123,000.

A cryptocurrency trader earned more than $3 million in profits by buying and selling a recently introduced Solana memecoin worth almost $2 million only twelve minutes later, immediately following its market debut.

As an analyst, I’ve come across another remarkable occurrence in the crypto market. A trader using the alias “sundayfunday.sol” transformed a $72,000 initial investment into a mind-boggling $30 million fortune within a short span of three days. This feat was achieved through skilled trading of an obscure cryptocurrency.

As a researcher studying the microblogging platform X (previously known as Twitter), I’ve come across numerous users raising concerns about the involvement of traders behind newly launched cryptocurrencies in high-risk investments. Some speculate that these traders could be the developers themselves or marketing teams aiming to artificially inflate the cryptocurrency’s price. By doing so, they would subsequently sell their tokens at a significantly higher value.

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2024-05-01 04:12