A trader operating under the name Point Farm Capital has accumulated over $10 million in unrealized profit from the Solana-based meme coin STONK. According to data from Lookonchain, the investor currently holds 35.7 million STONK tokens, which are valued at approximately $10.55 million. This position makes the account the largest single holder of the asset.
The initial investment for this position was about $542 000, representing a return of more than 1 800%. The trader entered the market when the token had a market capitalization of around $12 million. Since then, the market cap of STONK has increased to approximately $255 million, driven by a strategy of consistent early buying and holding.
The investment journey involved significant volatility. On September 8, the account experienced a temporary loss of $2.69 million within a 24-hour period before the subsequent price rally. Unlike common high-frequency trading strategies in the meme coin sector, this approach relied on holding the position despite sharp price swings.
Market analysts note that such outcomes are rare and carry high risks. Because STONK remains a small and thinly traded asset, its price is subject to rapid reversals. The reported $10 million gain remains unrealized, and the potential for significant value loss persists, as most participants attempting similar strategies often face financial losses.
