A trader bought $208,000 worth of Gains Network (GNS) tokens less than 30 minutes before the token was listed on Binance, making a profit of $106,000, according to blockchain sleuth Lookonchain.
GNS, the token that underlies Gains Network's decentralized exchange, jumped to $12.01 from $7.92 immediately following the listing. The trader bought the tokens on decentralized exchange aggregator 1Inch before selling them on the same venue after the price had surged.
(By Oliver Knight)
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