GME cryptocurrency on the Solana platform experiences a staggering 300% surge amidst the surging GameStop stock.
Keith Gill, also known as ‘TheRoaringKitty,’ recently revealed that he possesses $65 million worth of call options for GameStop (GME) with a $21 strike price, set to expire in 19 days. As a result, the price of GME cryptocurrency on the Solana (SOL) blockchain saw a temporary surge of over 300%. This upward movement aligns with the overall trend of GameStop’s stock, which has also shown a significant premarket increase of nearly 100%.
One trader, in particular, took advantage of this market shift by executing a limit order that led to the sale of 3.5 million GME for 260 SOL (approximately $43,000) at a rate of $0.01226 per GME. Despite this transaction, the trader still holds a substantial position of 108 million GME, valued at around $1.5 million. So far, the total profit from these trades amounts to approximately $1.37 million.
For those who followed this trader’s advice and purchased GME at the recommended time, their profit would currently be more than five times their initial investment when observing the transactions and holdings on Solscan.
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