An unknown trader made $651,000 using only 1.31 ETH, worth $2,931, to buy Snowman, a memecoin launched on the Ethereum blockchain. What Happened: An unidentified trader spent 1.31 Ether (CRYPTO: ETH) to purchase 386.94 trillion tokens of the Snowman memecoin, accounting for 43.5% of the total supply. The trader then sold 72 trillion SNOW for 53.4 Ethereum tokens worth $119,000. The transaction not only resulted in a $116,000 profit (or 52.09 ETH), but also left the trader with 314.9 trillion SNOW (35.4% of the total supply), bringing the unrealized profit to $535,000. This amounts to a 220x re…