{"id":116812,"date":"2024-10-21T20:51:51","date_gmt":"2024-10-21T13:51:51","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=116812"},"modified":"2024-10-21T20:51:51","modified_gmt":"2024-10-21T13:51:51","slug":"from-3k-to-9m-analyzing-the-wild-ride-of-solanas-gnon-crypto","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=116812","title":{"rendered":"From $3K to $9M: Analyzing the wild ride of Solana&#8217;s GNON crypto"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>A trader turned millionaire through the Solana-based GNON memecoin.<\/em><\/li>\n<li><em>Edward Snowden criticized Solana as a hub for memecoins and fraudulent schemes.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In a surprising development, a cryptocurrency trader turned a $3,000 investment into a staggering $9 million in just three days. This marked a 3000x return on investment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This incredible gain came from the <a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana [SOL]<\/a>-based Numogram (GNON) token, a low-cap <a href=\"https:\/\/ambcrypto.com\/category\/memecoins\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">memecoin<\/a> that was launched on 17th October.<\/span><\/p>\n<h2>Speculations surrounding GNON crypto<\/h2>\n<p>On-chain analytics firm <a href=\"https:\/\/x.com\/lookonchain\/status\/1847913494215098870?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1847913494215098870%7Ctwgr%5E639ca139f17af251c84608448372a330f6978fd1%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fblockchainreporter.net%2Fcrypto-investor-turns-3000-worth-gnon-into-9-million-in-just-3-days-achieving-3000x-roi%2F\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Lookonchain<\/a> in a 20th October post on X highlighted the trader\u2019s impressive profit by drawing attention to the volatility within the memecoin market.<\/p>\n<p><span style=\"font-weight: 400;\">According to the post,\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cHe spent only $3K to buy 56M $GNON via 3 wallets and sold a small part. He currently holds 55.18M $GNON across 4 wallets, worth more than $9M!\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This shocking event sent ripples through the crypto community, sparking concerns and raising suspicions that something unusual was unfolding behind the scenes.<\/span><\/p>\n<div id=\"attachment_435169\" style=\"width: 1186px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven.webp\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-435169\" class=\"wp-image-435169 size-full\" alt=\"InvestingHaven\" width=\"1176\" height=\"334\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven.webp 1176w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-300x85.webp 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-1024x291.webp 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-768x218.webp 768w\" data-lazy-sizes=\"(max-width: 1176px) 100vw, 1176px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven.webp\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-435169\" class=\"wp-image-435169 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven.webp\" alt=\"InvestingHaven\" width=\"1176\" height=\"334\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven.webp 1176w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-300x85.webp 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-1024x291.webp 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/InvestingHaven-768x218.webp 768w\" sizes=\"auto, (max-width: 1176px) 100vw, 1176px\"\/><\/a><\/p>\n<p id=\"caption-attachment-435169\" class=\"wp-caption-text\">Source: InvestingHaven\/X<\/p>\n<\/div>\n<h2>Solana: A genuine blockchain or a hub for scams?<\/h2>\n<p><span style=\"font-weight: 400;\">Well, the surge in SOL-based memecoins, despite their lack of inherent utility, has been a notable trend. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">These tokens, known for their wild price swings, have turned ordinary investors into millionaires almost overnight. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">One striking example occurred in May when a <a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Pepe [PEPE]<\/a> token trader managed to transform a $3,000 investment into a staggering $46 million within a month.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, on the flip side, many investors have faced significant losses due to memecoin related scams. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, <a href=\"https:\/\/ambcrypto.com\/metallica-falls-victim-to-crypto-scam-x-account-hacked\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Metallica\u2019s X account<\/a> was compromised. Hackers used it to promote a fraudulent Solana token called METAL. <\/span><\/p>\n<p>Similarly, hackers hijacked French soccer star Kylian Mbapp\u00e9\u2019s X account to promote the memecoin <span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/mbappe-scam-this-person-lost-more-than-1m-in-just-1-hour\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">MBAPPE<\/a>.<\/span><\/p>\n<p>Unfortunately, MBAPPE\u2019s value plummeted within an hour, resulting in devastating losses. In fact, one investor lost over $1 million in just 60 minutes.<\/p>\n<p>In response to the increasing number of scams, former NSA contractor and whistleblower <span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/snowden-labels-solana-a-hub-for-memecoins-and-scams-heres-why\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Edward Snowden<\/a><\/span> criticized SOL, labeling it a hotspot for fraudulent schemes.<\/p>\n<p>Snowden argued that while Solana\u2019s centralization may enhance efficiency, it has also turned the platform into a breeding ground for memecoins and scams.<\/p>\n<h2>GNON crypto price trends<\/h2>\n<p>Yet, despite lacking clear utility, the GNON memecoin recently surged an astounding 233% in a single day, according to <a href=\"https:\/\/www.geckoterminal.com\/solana\/pools\/2ur2GZKShAp8xJ33QSs7C5ZUTD9mRjVrgwoHR2Q7T1Sv\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">GeckoTerminal<\/a> data.<\/p>\n<p>Speculative trading largely fueled this spike after the token\u2019s listing on the Moonshot platform, a popular destination for retail traders chasing memecoin opportunities.<\/p>\n<p>However, this rally may prove fleeting, as the token lacks substantial development or a use case to support sustained growth.<\/p>\n<p>As of press time, GNON dropped 36.25% in 24 hours, highlighting the volatility typical of memecoins driven by social media hype rather than fundamental factors.<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/why-bitcoin-michael-saylor-breaks-down-btcs-edge-over-gold-stocks\/\" rel=\"prev\" data-wpel-link=\"internal\">Why Bitcoin? Michael Saylor breaks down BTC\u2019s edge over gold, stocks!<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/from-3k-to-9m-analyzing-the-wild-ride-of-solanas-gnon-crypto\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A trader turned millionaire through the Solana-based GNON memecoin. Edward Snowden criticized Solana as a hub for memecoins and fraudulent schemes. In a surprising development, a cryptocurrency trader turned a &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=116812\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116812","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116812"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116812\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}