Crypto trader multiplied his investment within a few days.
Starting on July 30, a cryptocurrency trader executed a maneuver that many involved with digital assets hope to achieve during their careers, multiplying an $875 investment into a profit of approximately $797,000.
Specifically, an anonymous player identified on DeBank began buying MarsCoin (MARSCOIN) on the penultimate day of the month, just before an explosive surge. Indeed, the investor spent $875 to acquire slightly less than 27 million MARS on July 30 and subsequently sold slightly more than half—15.87 million—for $314,000 after the ensuing rally began. Combined with unrealized gains from the MarsCoin still held, the crypto trader profit totals $797,000.
MarsCoin cryptocurrency price performance
Meanwhile, the history of the cryptocurrency dates back just a few days—to July 28—when its charts began showing prices near $0.004. The fortunes of MarsCoin changed shortly after, as the penultimate day of the month initiated a rally that sent it approximately 600% higher at its peak, reaching $0.034 at the time of writing.
At the same time, the exact setup raises questions about whether the highly successful investor was an insider player, while casting doubt on whether MARS will be able to repeat the surge given the lack of clear secondary drivers. Although likely an ephemeral event, the surge in MarsCoin market performance and the associated trade occurred during a period of resurgence across digital asset markets.
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