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Crypto Trader Makes 12x Profit With This TON Ecosystem Token
A crypto trader who capitalizes on TON ecosystem meme tokens has registered a massive profit despite Telegram CEO Pavel Durov’s arrest. The smart trader recently made a 12x profit by selling Resistance Dog (REDO) within the TON network. Following the rebranding of TON Blockchain’s logo to the REDO token logo, its price skyrocketed by approximately 200%.
Crypto Trader Makes Massive Profit On TON Ecosystem
The trader in question sold all 881,000 REDO tokens, securing a remarkable profit of 107,275 SOL, equivalent to $606,000. This transaction represented a 12x return on the trader’s initial investment in REDO. Moreover, it marks one of the most profitable trades within the TON ecosystem, according to TonViewer.
The latest surge comes from TON Blockchain adopting the Resistance Dog logo as they rally behind Pavel Durov after the Telegram CEO was arrested in France. The token price surged to a high of $0.94 today, which several traders capitalized. However, a part of community members also shifted to other tokens as Telegram faces scrutiny.
The trader’s success did not stop with REDO. He also made significant gains from trading other meme coins within the TON ecosystem. Notably, he earned 5,207 TON, valued at $29,400, through trades involving Ton Inu (TINU). He achieved a 35x return on TINU meme crypto sale.
Additionally, he secured 3,118 TON, worth $17,600, from trading Paper Plane (PLANE), marking an impressive 62x return. In total, the trader engaged in 11 meme coin trades, achieving a win rate of 54.5%. His cumulative profit across these trades amounted to 115,387 TON, which is approximately $652,000, according to blockchain analytics firm Lookonchain.
About Pavel Durov’s Arrest & Public Outrage
The arrest of Telegram CEO Pavel Durov in France has triggered widespread controversy, drawing reactions from prominent tech leaders and public figures. Durov was apprehended on August 25 at Le Bourget airport near Paris. The action was taken for his alleged involvement in criminal activities facilitated through his messaging platform, Telegram. On the day of arrest, TON ecosystem’s native token, Toncoin, plunged over 12%.
The charges include terrorism, money laundering, drug trafficking, and distribution of illegal content. Moreover, French authorities argue that Telegram’s lack of moderation has turned it into a haven for organized crime.
In response to the arrest, prominent figures like Elon Musk voiced strong support for Durov. Musk, CEO of Tesla, criticized the situation, stating:
“Instagram has a massive child exploitation problem, but no arrest for Zuck, as he censors free speech and gives governments backdoor access to user data.”
Political figures like Robert F. Kennedy Jr. also condemned the arrest. Kennedy tweeted, “France just arrested Pavel Durov… The need to protect free speech has never been more urgent.”
Amid heightened scrutiny in TON ecosystem, Telegram launched the #FREEDUROV campaign. It gained traction, with support from various celebrities and tech leaders. Furthermore, Tron founder Justin Sun pledged $1 million towards Durov’s legal defense if enough community support is garnered. In addition, Andrew Tate went on to question France’s law enforcement.
Kritika Mehta
Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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