Binance Trader Turns $8K into $4M on Solana’s LAUNCHCOIN Amid Insider Trading Suspicions

A cryptocurrency trader has reportedly turned an $8,191 investment into a staggering $4 million in just 22 days by trading LAUNCHCOIN, a Solana-based token associated with the Web3 SocialFi platform Believe. The trader’s sudden windfall, highlighted by blockchain analytics firm Lookonchain, has raised questions about whether the success was due to exceptional market timing or potential insider advantages. The individual had withdrawn 68.8 SOL from Binance after a period of inactivity, further fueling speculation around the trade’s legitimacy.

Trader Turns $8K into $4M on Solana-Based LAUNCHCOIN Amid Suspicions

A cryptocurrency trader transformed an $8,191 investment into $4 million within 22 days by trading LAUNCHCOIN, a Solana-based token linked to the Web3 SocialFi platform Believe. The trader’s abrupt success—spotlighted by blockchain analytics firm Lookonchain—has sparked debate over whether the windfall resulted from shrewd timing or insider advantage.

The individual withdrew 68.8 SOL from Binance after months of inactivity, deploying 54 SOL ($8,191) to acquire 14.62 million LAUNCHCOIN when its market capitalization languished below $500,000. The token’s valuation subsequently surged past $300 million, delivering a 500x return. Such parabolic moves on low-cap solana tokens continue to attract both opportunists and regulatory scrutiny.

Cardano (ADA) Eyes $1.00 Amid Retail Optimism and Institutional Interest

Cardano’s ADA trades at $0.7709, down 5.70% in 24 hours, yet technical patterns suggest a potential rebound. A falling wedge breakout on the 3-day chart hints at a 15% rally toward $1.20, fueled by $9.18 million in net exchange outflows—a sign of accumulation.

Retail sentiment leans heavily bullish, with 89.56% of Binance traders holding long positions. Institutional confidence grows as Grayscale elevates ADA to its fourth-largest crypto holding, posting an 8.6% weekly gain.