The substantial rise in the price of the new Pandora token earned a trader approximately $1.2 million in two days, as noted by analysts at Lookonchain.
The price of #Pandora, the first token built on the #ERC404 token standard, has now risen to over $8,600.
A trader has made a total profit of ~$1.2M on #Pandora in just 2 days!
The trader spent 97,484 $USDT to buy 154 #Pandora at $633 2 days ago and sold 25 #Pandora for 188,695… pic.twitter.com/407fCIlcx1
— Lookonchain (@lookonchain) February 6, 2024
On February 4, the user purchased 154 Pandora for 97,484 USDT at a price of $633 per coin. After the token reached $7548 a few hours ago, they sold 25 Pandora for 188,695 USDT, gaining a profit of 91,211 USDT.
Currently, the trader holds 129 Pandora valued at $1.1 million.
At the time of writing, the coin’s price stands at $7300, with a daily increase of approximately 300%, according to CoinGecko.
Pandora is the first token issued on the experimental ERC-404 standard. It represents a hybrid implementation of ERC-20/ERC-721 with its own liquidity and fractionalization.
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Pandora is the first token built on the ERC404 token standard, an experimental token standard that we have open sourced for creators and developers alike.
But what is an “ERC404”?
— Pandora (@Pandora_ERC404) February 2, 2024
The standard has yet to undergo a full external audit. Its code is available on GitHub.
Previously, 12 traders made millions from the surge of the meme token dogwifhat on the Ethereum network.