TRADER ACHIEVES 1,280X PROFIT WITH SORA TOKEN 

A trader achieved an extraordinary profit of $176,000 through a clever investment strategy involving the SORA token, despite its unrelated nature to OpenAI’s Sora text-to-video AI.

Starting with a modest investment of 0.049 ETH, equivalent to just $137 at the time, the trader acquired 16 million SORA tokens. The trader then executed a strategic maneuver, selling 12.36 million SORA tokens for 36.57 ETH, valued at $102,492, while retaining the remaining 3.64 million SORA tokens, worth around $74,000. This single transaction resulted in an impressive 1,280x return on the trader’s initial investment.

Although the SORA token emerged following the release of OpenAI’s groundbreaking Sora model, capable of generating lifelike visual content from text prompts, it’s important to clarify that the SORA token is not directly associated with the development team.

OpenAI’s introduction of the Sora model spurred a resurgence of interest in AI-related tokens, leading to a rally in various cryptocurrency projects linked to artificial intelligence, including Worldcoin, Bittensor (TAO), and Fetch.ai.

Worldcoin, notably associated with OpenAI co-founder Sam Altman, saw a remarkable 40% surge in a single day, reaching a new all-time high, reflecting the market’s enthusiastic response to advancements in AI technology. Similarly, Bittensor and Fetch.ai experienced significant gains, with Bittensor witnessing a 17.4% weekly increase and Fetch.ai soaring to $0.9126, marking a 45.5% weekly uptick. This renewed interest signals a potential resurgence in investor confidence and interest driven by technological progress in AI-related tokens after a period of reduced activity.

Ethereum co-founder Vitalik Buterin recently highlighted the potential use of AI-assisted methods to enhance the security of the Ethereum network, emphasizing the significance of mitigating technical risks such as code bugs.

Despite the trader’s success with the SORA token, the cryptocurrency market remains highly volatile, as evidenced by the SORA token’s recent 20% decline in value over the past 24 hours, with its price currently standing at $0.01657.

Read more from the blog

News

3 May 2023

StoneBlock CEO: Nervous investors will be eliminated from the market

News

22 Apr 2024

ANIMOCA BRANDS HOLDS $558M IN CRYPTO ON BALANCE SHEET 

News

22 Apr 2024

CRYPTOJACKER ACCUSED OF $3.5M FRAUD AGAINST TWO CLOUD PROVIDERS