Solana-Based LAUNCHCOIN Yields $4M Windfall for Trader Amid Market Speculation
A cryptocurrency trader has 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 remarkable gain, highlighted by blockchain analytics firm Lookonchain, has ignited discussions on whether the trader’s success was due to exceptional market timing or potential insider advantages. The trader’s activity resurfaced after months of dormancy, withdrawing 68.8 SOL from Binance before capitalizing on LAUNCHCOIN’s surge. As of May 2025, this event underscores the high-risk, high-reward nature of speculative crypto trading on Solana’s ecosystem.
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.
FTX’s $5 Billion Payout Plan Rattles Solana Market
Solana’s market stability faced turbulence as FTX unveiled plans to distribute $5 billion in digital assets to creditors. The altcoin dropped 4% to $169 on May 16, breaching the $170 support level for the first time since April. Analysts point to unlocked SOL holdings and broad market sell pressure as catalysts.
Payments through BitGo and Kraken beginning May 30 threaten further downside. While Bitcoin maintains relative stability, Solana’s technical outlook darkens amid the supply overhang. ETF speculation offers little counterbalance to the immediate liquidity shock.
Solana Targets $262 as Analyst Spots Bullish Cup and Handle Pattern
Solana has rebounded to $172, signaling renewed bullish momentum as traders eye a potential rally toward $262. The recovery follows a 60% drop from January’s peak, with the token now challenging key Fibonacci levels.
Technical indicators show a U-shaped recovery pattern forming since April, accompanied by strong futures market activity. The breakout above $170 suggests accumulating buying pressure could propel SOL toward the psychologically significant $200 threshold.
Market participants are watching whether this technical setup could initiate a broader uptrend. The 64% gain over 34 days demonstrates Solana’s capacity for rapid appreciation when market conditions align.
Institutional Interest Drives Solana Prices Upward
Solana (SOL) is experiencing heightened market expectations as institutional interest surges. Crypto analyst Inmortal highlights potential price catalysts, particularly developments around spot Solana ETFs. Asset managers including Grayscale, VanEck, and Franklin Templeton have filed applications with the SEC, signaling growing mainstream acceptance.
The flurry of ETF activity underscores Solana’s maturation as an institutional-grade asset. Market observers note this mirrors the trajectory of Bitcoin and ethereum ETF approvals, which historically preceded major price rallies. Liquidity and accessibility improvements from ETF products could further solidify SOL’s position among top-tier cryptocurrencies.
