A recent purchase of $135 in an Ethereum (ETH)-based meme coin called First City in Mars (TERMINUS) has emerged as one of the most lucrative trades in the cryptocurrency market for 2024. Executed on Uniswap on September 8, this investment skyrocketed nearly 1,000 times by September 21, reaching a staggering value of $1.2 million just days later, according to data collected by Finbold from Lookonchain on the morning of September 24. This meteoric rise from $135 to $1.2 million translates to an astonishing 9,000% increase in just over two weeks, marking it as one of the most profitable trades in recent history.
In related news, Ripple has sold over $200 million in XRP during September, while underground crypto mining operations were recently uncovered in Dagestan, Russia. Furthermore, billionaires are shifting their investments from Nvidia stock to a specific index fund, and Bybit has launched a pioneering Islamic crypto account.
Crypto trader’s returns in TERMINUS. Source: Dex Screener
### What’s Driving TERMINUS to the Stars?
As is often the case with meme coins, TERMINUS owes its impressive ascent to a series of fortunate events. A notable post on X by DogeDesigner, a well-known crypto influencer, speculated that Elon Musk might name the first city on Mars “Terminus.” While Musk has not officially endorsed TERMINUS, the association between him and the coin significantly boosted its value, especially after he expressed plans to establish a city on Mars in the coming decades. SpaceX aims to launch approximately five uncrewed Starships to Mars within two years, with the potential for crewed missions to follow if all goes smoothly.
Elon Musk tweeted:
“It is only possible to travel from…
https://t.co/dzi03Hnyhg
— Elon Musk (@elonmusk)
September 22, 2024”
Moreover, the already lucrative investment may see further gains, as the value of TERMINUS climbed by an additional 50.24% within the last 24 hours, bringing its price to $0.387 at the time of this report.
TERMINUS 1-day price chart. Source: Uniswap
### A Resurgence of Meme Coins in September
Despite a rough start to the month due to ‘The September Effect,’ which left the crypto market in a lull, the past 30 days have been exceptionally fruitful for meme coins. While the $135 to $1.2 million journey of TERMINUS is undoubtedly impressive, it’s not the only remarkable story. On September 23, Finbold highlighted a trader who exchanged 6 Solana (SOL)—valued at about $800 on September 6—for Moo Deng (MOODENG), resulting in a staggering $1.3 million within just two weeks.
Additionally, an investor who spent $16,550 on First Neiro (NEIRO) in early August saw their total returns soar to approximately $1.8 million by mid-September. The 2024 crypto landscape has been dominated by meme coins, evidenced by a trader turning $650 into $67,000 in mid-August with Sundog (SUNDOG) and the brief success of Hawk Tuah (HAWKTUAH) in late June.
However, not every trade has enjoyed success. A cautionary tale emerged when a $1 million investment in MBAPPE plummeted to just $9,000 within an hour, serving as a stark reminder of the volatility that can accompany meme coin trading.
