Lone Sniper Hits $7 Million Jackpot, Trio of Traders Net $1 Million Apiece During SAVM Crypto Launch
A recent report from Arkham Intelligence revealed that the launch of the satoshivm (SAVM) token two days ago resulted in three skilled crypto traders, known as snipers, earning a profit of $1 million each. The most successful sniper achieved an astonishing gain of over a million dollars in less than 40 minutes.
Crypto Snipers and Profits from SAVM Launch
The recent launch of satoshivm (SAVM) saw crypto snipers making significant profits, as detailed by Arkham Intelligence. Sniping refers to the practice of executing crypto trades quickly and accurately to gain a strategic advantage. This strategy involves setting parameters for immediate purchasing upon a new token's launch and utilizing automated trading bots. According to market data from coingecko.com, SAVM initially had a price of $6.83 per unit and is currently trading between $9.48 and $14.13.
"When SAVM launched 2 days ago, over $3 million of ETH attempted to snipe the token as soon as liquidity was deployed," Arkham wrote on X this weekend. "It was a knife fight – with the top 3 most successful snipers all making over $1 million each, in under 12 hours. The largest sniping address, 0x278, bought 2 million SAVM for $333,000, selling it over the next half an hour for a total of $1.7 million." Arkham added that despite the $350,000 transaction cost, the sniping address made over a million dollars in just 40 minutes.
The second-largest participant invested $220,000, acquiring 450,000 SAVM tokens. However, they had to pay nearly $300,000 to include their transaction in the block. This trader made slightly over $1 million in total profits and still holds SAVM valued at $120,000.
The last group of sniping traders divided their purchases among five different accounts, each buying approximately 15 ETH. This strategy involved an investment of 90 ETH to secure 191,000 SAVM tokens. Over the next nine hours, these tokens were gradually sold, resulting in 618.4 ETH or $1.5 million. Lookonchain researchers also disclosed that another sniper made almost $7 million in profit from sniping.
The Debate around Crypto Sniping
The practice of crypto sniping has sparked numerous discussions, mainly due to the use of sniper bots in crypto trading. The employment of these bots is controversial, raising concerns about market integrity and potential manipulation. Sniper bots may provide unfair advantages, leading to price distortions and disadvantaging individual traders who cannot match the speed and effectiveness of the bots.
While it is a complex topic, supporters of sniping argue that it is a groundbreaking approach that presents risks unfamiliar to traditional traders. Bot trades may not always succeed, transactions can fail, and market responses can be highly unpredictable. It requires boldness, tactical skill, and sometimes significant investments for those who use sophisticated tools like sniper bots to gain an edge in the fiercely competitive crypto trading landscape.
What are your thoughts on the practice of crypto sniping? Share your opinions in the comments section below.
Frequently Asked Questions
What is a Precious Metal IRA and How Can You Benefit From It?
Precious Metals are a great way to invest in retirement funds. They have been around since biblical times and continue to hold value today. Investing in precious metals such as gold, silver, and platinum is also a great way to diversify your portfolio and protect against inflation.
Certain countries permit citizens to hold their money in foreign currencies. You can buy gold bars in Canada, and then keep them at the home. Then, you can buy gold bars in Canada and sell them for Canadian dollars when your family is home.
This is a quick and easy way of investing in precious metals. This is especially helpful if you don't live in North America.
What is the interest rate on a gold IRA?
It all depends on how big your investment is. If you have $100,000, then yes. If your net worth is less than 100,000, no.
How much money you place in an IRA will determine how it earns interest.
If you invest more than $100,000 each year in retirement savings, you may want to open a regular brokerage instead.
While you will probably earn more interest there as a result, you'll also be subject to riskier investments. You don't want your entire portfolio to go bankrupt if the stock markets crash.
An IRA may be better for you if your annual income is less than $100,000. At least until the market recovers.
Can I store my gold IRA in my home?
Online brokerage accounts are the best way for you to invest your money. You'll have access to all the same investment options as if you were working with a traditional broker, but you don't need special licenses or qualifications. Plus, there are no fees for investing.
A lot of online brokers offer tools for managing your portfolio. They will even let you download charts to see how your investments perform.
What is the difference between a gold and silver IRA?
An IRA for gold and/or silver allows you to invest without tax in precious metals such as silver and gold. They are a good investment option for those who wish to diversify their portfolios.
You do not have to pay income tax on interest earned from these accounts if you are over 59 1/2. You also do not have to pay capital gains tax on any appreciation in the account's value. However, there are limitations on how much money you can put into this type of account. The minimum amount that you can invest is $10,000. You can't invest if you're younger than 59 1/2. Maximum annual contribution: $5,500
Your beneficiaries could receive less if you die before your retirement. Your estate must include enough assets to cover the balance remaining in your account after all other expenses and debts have been paid.
Some banks offer IRA options in gold and silver, while some require you to open a regular brokerage accounts through which you can purchase shares or certificates.
Statistics
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- Silver must be 99.9% pure • (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
External Links
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How To
How to open a Precious Metal IRA
Precious metals are one of the most sought-after investment vehicles today. They are so popular because they allow investors to earn higher returns than traditional investments like stocks and bonds. But, it is important to do your research and plan carefully before investing in precious metals. If you want to open your own precious metal IRA account, here's what you should know first.
There are two main types to precious metal accounts. The physical precious metallic accounts and the paper gold-silver certificates (GSCs). Each type of account has its own advantages and disadvantages. For example, physical precious metals accounts offer diversification benefits, while GSCs are easy to access and trade. To learn more about these options, keep reading below.
Physical precious metals accounts can be used to hold bullion, coins and bars. Although this option can provide diversification benefits, there are some drawbacks. You will need to pay a lot of money for precious metals, whether you are buying, selling, or storing them. It can also be difficult to transport their large sizes from one place to the next.
However, silver and gold certificates made of paper are quite affordable. They are also easily available and can be traded online. They're a great choice for people who don’t want precious metals. But, they're not as well-diversified as physical counterparts. They are also backed by government agencies like the U.S. Mint so their value could decline if inflation rates rise.
You should choose the account that best suits your financial needs before you open a precious-metal IRA. Before you make that decision, here are some things to consider:
- Your risk tolerance level
- Your preferred asset allocation strategy
- How much time do you have to invest
- Whether or not you plan on using the funds for short-term trading purposes
- What kind of tax treatment you'd prefer
- Which precious metal would you like to place your money in?
- How liquid should your portfolio be?
- Your retirement age
- Where to store precious metals
- Your income level
- Your current savings rates
- Your future goals
- Your net worth
- Any other special circumstances that may impact your decision
- Your overall financial picture
- Your preference between physical and paper assets
- Your willingness to take risks
- Your ability to handle losses
- Your budget constraints
- You desire to be financially independent
- Your investment experience
- Precious metals are familiar to you
- Your knowledge about precious metals
- Your confidence in the economy
- Your personal preferences
Once you've chosen the right type of precious Metal IRA to suit your needs, it is time to open a dealer account. These dealers can be found via referrals, word-of-mouth, and online research.
Once you've opened your precious metal IRA, you'll need to determine how much money you want to put into it. It's important to note that each precious metal IRA account carries different minimum initial deposit amounts. Some accounts require $100 while others allow you to invest up $50,000.
As you can see, your precious metal IRA IRA investment amount is completely up to the individual. A larger initial deposit is better if you are looking to build wealth over a longer period of time. On the other hand, if you're planning on investing smaller sums of money every month, a lower initial deposit might work better for you.
There are many types of investments that can be purchased, as well as precious metals you can use in your IRA. These are the most commonly used:
- Bullion bars, coins, and rounds in gold
- Silver – Rounds and coins
- Platinum – Coins
- Palladium Round and Bar Forms
- Mercury – Round or bar forms
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