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$62,504.00 1.80365
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$3,423.65 1.73728
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BNB
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$406.05 0.80068
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$130.30 1.12033
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$0.5938730 -1.17672
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$0.0000155 16.91655
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$0.0000243 2.97773
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$62,504.00 1.80365
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Ethereum
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$3,423.65 1.73728
Ethereum price
BNB
BNB (BNB)
$406.05 0.80068
BNB price
Solana
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$130.30 1.12033
Solana price
XRP
XRP (XRP)
$0.5938730 -1.17672
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000155 16.91655
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Pepe
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$0.0000041 42.04142
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Bonk
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$0.0000243 2.97773
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$62,504.00 1.80365
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Ethereum
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$3,423.65 1.73728
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BNB
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$406.05 0.80068
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Solana
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$130.30 1.12033
Solana price
XRP
XRP (XRP)
$0.5938730 -1.17672
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Shiba Inu
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$0.0000155 16.91655
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Pepe
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$0.0000041 42.04142
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Bonk
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$0.0000243 2.97773
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Bitcoin
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$62,504.00 1.80365
Bitcoin price
Ethereum
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$3,423.65 1.73728
Ethereum price
BNB
BNB (BNB)
$406.05 0.80068
BNB price
Solana
Solana (SOL)
$130.30 1.12033
Solana price
XRP
XRP (XRP)
$0.5938730 -1.17672
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000155 16.91655
Shiba Inu price
Pepe
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$0.0000041 42.04142
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Bonk
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$0.0000243 2.97773
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Trader turns 1 ETH to $59k in hours with new ERC-404 token

trader-turns-1-eth-to-59k-in-hours-with-new-erc-404-token
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Trader turns 1 ETH to $59k in hours with new ERC-404 token

An unknown trader turned 1 Ethereum (ETH) into almost $60,000 in hours.

According to Lookonchain analysts, an unknown trader earned $59,000 from 1 ETH in 11 hours thanks to the ERC-404 MINER token.

“His secret to making money is buying and selling the ERC-404 token MINER using high gas!”

Lookonchain analysts

The trader first withdrew 1 ETH from the Binance cryptocurrency exchange and spent 0.065 ETH ($163) to buy MINER at a meager price using 0.802 ETH ($2010) of gas, later selling 722 MINER for 19.11 ETH using 0.5 ETH ($1244) of gas.

As a result, in 11 hours, the trader ended up with 350 MINER tokens worth about $15,000 at the time of the transaction. In total, the trader earned $59,000.

The rapid growth of ERC-404 standard tokens is not the first to enrich traders. Last week, an unknown trader earned over $166,000 in two days by spending 0.258 ETH ($613) to buy the DeFrogs token. For 100 DEFROGS, the trader paid 0.08 ETH ($190). The transaction fee was 0.178 ETH ($423). After a couple of days, during which the token’s price grew rapidly, the trader sold 60 DEFROGS for 27.8 ETH ($67,000).

However, the ERC-404 token market itself is recording a significant decline. The sector’s market capitalization has fallen 30% in the past 24 hours, following a meteoric rise last week.

The ERC404 standard combines the ERC-20 and ERC-721 standards, creating tokens that can be fungible and unique. For example, when purchasing a token of this new standard (PANDORA), the user receives a token and a unique non-fungible token (NFT). This adds additional value to the token since the NFT may be rare or of exceptional value.

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