Cryptocurrency trader earned $ 3.2 million in two days on a little-known digital token

Note: not investment advice!

On Friday, October 25, a cryptocurrency trader made a rather unusual transaction and spent 20 Solana (SOL) worth $ 3,500 to purchase more than 47 million ai16z meme coins, and two days later, on October 27, this investment was worth $ 3.2 million.

It is noted that such events are not uncommon in the field of meme coins and altcoins, and in less than 24 hours — by October 28 — the investment lost about $ 1.3 million, as the market capitalization of ai16z fell from a high of about $ 100 million to $ 44 million.

As you know, the ai16z cryptocurrency is associated with a recently created fund of the same name on the daos.fun platform.

Its main activity is promising projects in the field of artificial intelligence (AI). The AI venture capital firm describes itself as «stage agnostic,» which opens up space for different strategies.

The fund had reportedly not yet begun trading at the time of the October 28 press conference, and the main description of ai16z on the primary website is written in a way that could be taken as both a «serious mission» and a joke.

No Worries strongly advises readers not to invest their own money in dubious crypto projects and little-known digital assets!

As a reminder, a cryptocurrency raider associated with the Sotheby’s auction house has earned 490 times the initial deposit on the BAN meme token.