According to cryptocurrency analysis firm LookOnChain, one investor spent $8,600 to buy GAME and CONVO tokens. After moving the assets to a new wallet, the investor forgot about the holdings. The coins are worth more than $29 million today. The investorâs portfolio has risen by more than 33,000%.
Also Read: Top 3 Cryptocurrencies That Could Rally This Weekend
Cryptocurrency Millionaires
Source: Pixabay
The crypto realm is filled with stories about people making massive returns with minimal investments. While it may be attractive to invest in smaller projects with hopes of big returns, there are several risks attached to such assets.
Also Read: Shiba Inu Year End Prediction: Will SHIB Hit $0.00003 By End Of 2024?
It is of the utmost importance that investor do their due diligence and research. One must never put money into the project without properly looking into the project. While many have made millions with cryptocurrencies, several investors have also lost their life savings due to hacks and scams.
Projects That Gave Stellar Returns
Shiba Inu (SHIB) is one of the most successful cryptocurrency projects. The asset launched in August 2020 and rallied by many million percent before hitting a peak in October 2021. Investors made massive gains with very small investments.
Source: Watcher Guru
Another popular cryptocurrency that made waves within the community is Pepe (PEPE). The frog-themed memecoin launched in April 2023. Since its launch, PEPE has made quite a climb. The memecoin is currently the 29th largest crypto project by market cap.
Also Read: Does Aldi accept SNAP?
Many anticipate an extended bull run under President-elect Donald Trumpâs leadership. Trump has been very supportive of the cryptocurrency industry. He recently named a new SEC chair and a White House âcrypto czar.â Both developments could lead to the cryptocurrency market witnessing its biggest rally ever. How the market performs over the next four years is yet to be seen.
