Trader turns 4.3 ETH into $1m after Elon Musk became CTO

On-chain data shows that a trader made a huge profit after Tesla CEO Elon Musk inspired the creation of a new meme coin. 

According to data provided by Lookonchain, a trader withdrew 4.3 ETH from Binance after Musk changed his X bio to “(CTO) Chief Troll Officer.” The investor then spent the ETH to purchase 19.37 trillion TROLL coins. 

Following Musk’s bio update on Jan. 8, the TROLL token witnessed a 57,000% rally over the past week — currently trading at $0.0000001256. The asset’s market cap surged to $120 million with a daily trading volume of roughly $38 million. 

TROLL price – Jan. 17 | Source: CoinMarketCap

The upward momentum of TROLL, consequently, turned the trader’s 4.3 ETH, worth around $10,000, into $1.14 million in just a week.

Subsequently, the trader pulled out 5.3 ETH, worth $12,467, to get the initial investment back. 

On-chain data shows that the address still has 10 trillion TROLL coins, worth $1.03 million. 

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