Trader transactions are not prevented by the ERC-404 standard, which is still in the experimental stage. After last week’s explosive increase in PANDORA from $600 to 30,000, an investor made thirty times more in just a couple of hours with the MINER token.

Most of the money was spent on transaction fees

According to data shared by on-chain platform Lookonchain, a crypto trader withdrew 1 ETH from the Binance then used it to buy 1073 MINER tokens.
However, the investor could only receive $163 from the tokens. For gas, 0.8 ETH in 2010 USD was paid.

Still, the huge rise in the token’s value raised the buying price from $160 to entirely higher levels. The trader sold 722 of his 1063 MINERs for 19.1 ETH (about $47,000). For this transaction, the user paid a transaction fee of around 0.5 ETH.

The trader still has 340 MINER tokens, which are valued at $15,000. In other words, the total profits increased to $62,000…

Is it “Insider trading” again?

The profits started an old discussion in the cryptocurrency community. Social media users stated that the trader appeared to be a project member. As you may know, traders gained millions of dollars in many meme currencies, especially Solana, after purchases made only minutes after the tokens were distributed. These movements, also known as “insider trading”, have been more common in recent times, particularly for small-cap currencies.