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HomeCrypto NewsMarketCardano User Turns 0.5 ADA to 25,000 ADA: Details

Cardano User Turns 0.5 ADA to 25,000 ADA: Details

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A lucky Cardano user successfully converts 0.5 ADA to a whooping 25,000 ADA. Here is the method he used to achieve this feat.

The crypto market is filled with stories of investors making huge returns from modest investments and someone losing a huge fortune during trades. A recent event in the Cardano ecosystem illustrates both scenarios, as an anonymous user benefitted immensely from another user’s pricing mistake during pool creation. 

Transaction Details 

According to reports, an anonymous user luckily converted a meager sum of 0.5 ADA ($0.2047) into a whopping 25,000 ADA ($10,235). 

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Notably, the unknown user sold 5 Dedium (DEDI) tokens at an inflated price of 4,670 ADA each due to a pricing error made by another user during pool creation. According to DexHunter founder Melon, the trade was executed on DexHunter, a leading Cardano-based decentralized exchange (DEX) aggregator known for its real-time routing updates. 

Another Cardano enthusiast, Conundrum, also confirmed the development via an X post yesterday, emphasizing that the lucky user turned 0.5 ADA into 25,000 ADA via the trade. 

Conundrum indicated that a DEDI token was sold at 0.0925 ADA during its presale, which commenced on July 18, 2024. Notably, the user added a link to the transaction details, illustrating that the transaction occurred yesterday at around 10:16 AM (UTC). 

Although the unknown lucky user made a massive return in the trade, Conundrum suggested that someone else got “rekt” in the process. For context, “Rekt” is a phrase in the crypto market indicating that a trader was utterly ruined due to losses from a trade. 

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Dedium Defends DexHunter, Shares Tips for Safe DEX Trading 

Meanwhile, some community members blamed DexHunter for the pricing mistake. Reacting, Dedium, a Cardano-based decentralized GPU gaming network and the project behind the DEDI token defended DexHunter, noting that the DEX should not be blamed for any mistake. 

The official X handle of Dedium urged users to always stick to an order book for trading DEDI, emphasizing the importance of verifying transactions before confirming them to avoid incurring losses. 

It suggested that the trading tip extends beyond DexHunter to other decentralized exchanges on Cardano, including AXO and Sundae. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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