This Gutsy Trader Made About $7M In Just 3 Hours On Heels Of SatoshiVM Token Launch
Portfolio Pulse from Ivan Crnogatić
A trader converted $681,000 into $6.77 million in three hours using Satoshi Virtual Machine ($SAVM), a new Bitcoin scaling solution. The trader used Banana Gun, a Telegram bot, and paid a bribe fee of 141.66 ETH ($353,000) to secure the first trade. The trader has sold 2.16M $SAVM tokens for $4.38 million so far. Satoshi Virtual Machine aims to scale Bitcoin and enable interactions similar to Ethereum, capitalizing on the Bitcoin Ordinals hype.
January 19, 2024 | 5:19 pm
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POSITIVE IMPACT
The Satoshi Virtual Machine ($SAVM) launch, a Bitcoin scaling solution, may increase interest in Bitcoin, potentially impacting its price.
The launch of Satoshi Virtual Machine, which aims to scale Bitcoin and facilitate interactions similar to Ethereum, could generate increased interest in Bitcoin. This, in turn, might have a positive impact on Bitcoin's price in the short term as it highlights Bitcoin's expanding utility and adoption.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The use of Ethereum to pay a bribe fee in the Satoshi Virtual Machine ($SAVM) trade could highlight Ethereum's utility, potentially affecting its price.
The trader's use of Ethereum to pay a significant bribe fee for the first trade of $SAVM tokens demonstrates Ethereum's utility as a means of payment in high-stakes trading scenarios. This could positively influence Ethereum's perception and price in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40