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GME crypto on Solana soars over 300% as GameStop stock heats up

GME crypto on Solana soars over 300% as GameStop stock heats up

Since the recent post by Keith Gill, also known as ‘TheRoaringKitty,’ disclosing that he holds $65 million worth of GameStop’s (NYSE: GMEcall options with a $21 strike price, set to expire in 19 days, the price of GME cryptocurrency on the Solana (SOL) blockchain briefly skyrocketed by more than 300%. 

GME 1-day price on Solana blockchain. Source: CoinMarketCap

This surge follows the broader trend of GameStop’s stock, which has also experienced a significant increase in premarket climbing close to 100%.

Trader profits big on GME crypto token

One particularly savvy trader has capitalized on this market movement. This trader had set a limit order that was triggered, resulting in the sale of 3.5 million GME for 260 SOL (approximately $43,000) at a price of $0.01226 per GME. 

GME/SOL on Radium. Source: Lookonchain

Despite this sale, the trader still holds a substantial position of 108 million GME, valued at approximately $1.5 million. To date, the total profit from these trades amounts to around $1.37 million. 

For those who followed this trader’s moves and bought GME when recommended, the profit would currently be more than five times their initial investment when viewing the transactions and holdings on Solscan.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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