An unknown trader has reportedly earned $166,000 in just two days from the growth of the DEFROGS cryptocurrency. According to Lookonchain analysts, the trader spent 0.26 Ethereum (ETH) to buy 100 DEFROGS coins, paying approximately $423 in gas fees.

An unknown trader has reportedly earned $166,000 in just two days from the growth of the DEFROGS cryptocurrency. According to Lookonchain analysts, the trader spent 0.26 Ethereum (ETH) to buy 100 DEFROGS coins, paying approximately $423 in gas fees. The trader then sold 60 DEFROGS for 27.8 ETH, equivalent to around $67,000, and still holds 40 DEFROGS, resulting in a total profit of $166,000.

There is speculation that insiders could be responsible for these profits, with one comment suggesting that developers often benefit early when a new coin increases in value. DEFROGS, a meme coin based on the PEPE crypto project, was launched on Feb. 7 and has seen a more than 85% increase in price to $2,930 at the time of writing. The developers claim that DEFROGS is a token of the new ERC-404 standard, combining the properties of cryptocurrency and non-fungible tokens. The project initially issued 10,000 tokens.

In a similar case, an unknown trader purchased $11,715 worth of PORK tokens shortly after trading opened and earned $3.3 million in three days. The trader sold 6.3 trillion PORK for 329 ETH (about $765,000) out of the 9.5 trillion PORK purchased, holding 3.2 trillion PORK worth approximately $2.55 million in unrealized gains.