A Solana Trader Loses $454K in ANT/SOL Crypto Trade in 40 Minutes

A large trader has lost $454,000 in a swift trading decision involving the cryptocurrencies $SOL and $ANT. The trader initially spent 3,396 $SOL, valued at approximately $587,000, to acquire 14.7 million $ANT tokens in a single transaction. However, the situation turned disastrous within 40 minutes. Lookonchain, an on-chain crypto analytical platform, shared the details of Solana’s trader’s loss through its official X account.

Swift Capitulation Leads Solana Trader to Significant Losses

In less than 40 minutes after the initial purchase, the trader exited their $ANT position, selling 14.7 million tokens. The rapid sale resulted in a return of only 773 $SOL, worth around $134,000 at the time. This move was completed in under an hour, resulting in a loss of 2,623 $SOL, equating to about $454,000.

The transaction took place on Raydium, a popular Solana-based decentralized exchange, where the liquidity and volume of the $ANT/SOL pair showed noticeable volatility. Liquidity for $ANT/SOL stood at $635,000 then, with the fully diluted value of $ANT remaining near $9.8 million. The market capitalization also followed this at $9.8 million.

Solana’s Trading Volume Insights

Despite the trader’s misfortune, the broader market remained active, with a total volume of $133.4 million and over 89,000 transactions executed in the $ANT/SOL pair. During the same period, the buy-to-sell ratio showed 48,603 buys compared to 40,654 sales.

Such incidents highlight the extreme volatility present in decentralized markets like Solana. The trader’s rapid loss is a cautionary tale for those engaging in high-volume trades on decentralized exchanges, where liquidity conditions can change swiftly. It also underscores the risks associated with trading volatile tokens like $ANT.

Price Analysis of $SOL

The Solana ($SOL) price chart displays a 5% increase over the past day, with the current price at $173.59. The market cap has grown by 4.82% to $81.61 billion, while the 24-hour trading volume surged by 23.16% to $4.14 billion.

The chart shows a consistent upward trend, with the price reaching a peak of around $174 after starting the day at approximately $165.32. Solana’s total supply is 587.12 million SOL, with 470.11 million $SOL circulating in the market. The current price momentum indicates strong market activity and positive sentiment.