Trader makes 1,200% profit with memecoins on TON

While the arrest of Telegram CEO Pavel Durov is negatively affecting the ecosystem, one crypto trader has made a huge profit. According to the trader’s report, despite the arrest of Telegram CEO, he managed to make 1,200% profits on memecoins from the TON network.

Associated with Telegram, the TON token recorded the biggest drop in the Top 10 last week. However, even in this scenario, the trader recorded a profit of 12 times, or about 1,200%, trading memecoins on the network. The main bet was on the Resistance Dog (REDO) memecoin.

After Durov was arrested, the TON blockchain changed its logo to that of the REDO token. In addition, the memecoin website called on its users to “resist” against the “arbitrary” arrest of the Telegram CEO. As a result, the price of REDO skyrocketed by approximately 200% in a few hours.

Trader makes 1,200% profit

The trader in question, whose identity was not revealed, owned 881,000 REDO tokens and sold them all after the token’s strong rise on Monday (26). With this, he secured a notable profit of 107,275 SOL, equivalent to US$ 606,000.

The transaction represented a 12x return on the trader’s initial investment and was one of the most profitable trades within the TON ecosystem, according to TonViewer.

The token’s price surged and reached a high of $0.94, benefiting several traders. However, a portion of the community members also switched to other tokens.

This same trader who made a strong profit on REDO traded other memecoins on the network and made very high profits. In another operation, the trader made a profit of 5,207 TON (US$ 29,263 in current values), through trades involving the memecoin Ton Inu (TINU).

In this case, although the nominal profit was higher, TINU yielded the trader a percentage gain of 3,500%. In addition, he secured 3,118 TON, worth US$ 17,600, by trading Paper Plane (PLANE), which yielded him an additional 6,200% profit.

In total, the trader engaged in 11 memecoin trades, achieving profit in 54.5% of the trades. His cumulative profit was 115,387 TON, which is approximately $652,000.

About the arrest of Pavel Durov

The arrest of Telegram CEO Pavel Durov in France has sparked widespread controversy, drawing reactions from prominent technology leaders and public figures. Durov was arrested on August 25 at Le Bourget airport near Paris.

The action was taken over his alleged involvement in criminal activities facilitated by his messaging platform, Telegram. The charges include terrorism, money laundering, drug trafficking and distribution of illegal content.

On the day of the arrest, the native token of the TON ecosystem, Toncoin, fell by more than 12%. Other famous tokens in the ecosystem, such as NOT, saw similarly deep drops.

In response to the arrest, prominent figures such as Elon Musk have expressed strong support for Durov. Tesla CEO Musk criticized the situation, stating that “Instagram has a huge child exploitation problem, but no one arrests Zuck (Mark Zuckerberg) because he censors free speech and gives governments secret access to user data.”

Amid increased scrutiny on the TON ecosystem, Telegram launched the #FREEDUROV campaign, which gained traction with support from several celebrities and tech leaders. Additionally, Tron founder Justin Sun pledged $1 million to fund Durov’s legal defense.

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