Trader Turns $80K Into $4 Million 🤑

GM Guys and Gals,

Everyone now a does is becoming a crypto Investor/Trader - It’s kind of a trend nowadays. But this Chad just blew up the space by making a whopping $ 4 million by investing just $80K in a month 🤯. Here’s everything to know about it and learn from the OG himself [👇🏻]

Baap Bada Na Bhaiya, Sabse Bada Rupaiya ₹

While many cryptocurrencies have had a favourable run this month, Polygon’s native token appears poised to close out January as a notable standout.

MATIC is up 19% in the past week to $1.19, lifting gains for the token to upwards of 50% in January. This comes as the value of Bitcoin and Ethereum have increased by nearly 44% and 38% in the past 30 days, respectively.

At the time of writing, MATIC is the tenth-largest cryptocurrency by market capitalization, with a total value of $10.6 billion.

The Polygon whale received 4 million MATIC from cryptocurrency exchange Binance in September 2020 for around $84,000 or just over 2 cents per token. Two days ago, the wallet parted with its MATIC holdings for $5.2 million worth of stablecoins.

Even though the sale included more MATIC than the wallet’s initial purchase from Binance, the trader still saw a return of around 50 times the original price that it paid on the 4 million MATIC, worth around $4.5 million or $1.14 per token at the time of sale.

However, the recent upswing is far from the token’s peak of $2.92 in December 2021. The token remains nearly 60% down from its all-time high. At its highest price, the 4 million in MATIC bought in 2020 would’ve been worth $11.7 million.

MATIC’s price action comes as Polygon prepares to follow through on an upgrade that was first announced in July last year. Polygon co-founder Sandeep Nailwal recently tweeted that Polygon’s zkEVM update has an official date and will launch soon.

That’s it for the day, Web3Shala 👋

To the Moon 🚀