Investor Gains Over $166,000 in Two Days with DeFrogs Token

An investor managed to earn over $166,000 in just two days by spending 0.258 ETH ($613) on the DeFrogs token, as noted by analysts at Lookonchain.

In just 2 days, this trader made $166K with only 0.26 $ETH($613)!

This trader spent only 0.08 $ETH($190) to buy 100 #DEFROGS using a high gas of 0.178 $ETH($423), then sold 60 #DEFROGS for 27.8 $ETH ($67K).

He currently has 40 #DEFROGS($100K) left, the total profit is ~166K! pic.twitter.com/g0VtlKoKGM

— Lookonchain (@lookonchain) February 8, 2024

The trader paid 0.08 ETH ($190) for 100 DEFROGS. The transaction fee amounted to 0.178 ETH ($423). After a few days, during which the token’s price surged, he sold 60 DEFROGS for 27.8 ETH ($67,000).

Currently, the user’s wallet holds 40 DEFROGS.

The current price of the coin is $3100, according to CoinGecko.

DeFrogs is one of eight coins issued under the experimental ERC-404 standard. This is a hybrid implementation of ERC-20/ERC-721, where purchasing the coin also automatically adds an NFT to the wallet.

Earlier, ForkLog reported a significant price increase of another ERC-404 token, Pandora. At the time of writing, it is trading at $26,800.