They Made Millions on Luna, Solana and Polygon: Crypto’s Boom Beyond Bitcoin

The ranks of cryptocurrency speculators have swelled, with even obscure tokens minting the newly wealthy: at least on the blockchain.

Etienne vantKruys, a globe-trotting cryptocurrency investor from Amsterdam, was hunting for a new investment two summers ago when he met some early backers of Luna, a digital coin that offers a framework for decentralized finance. Impressed by their commitment to the project, he bought $25,000 of Luna for 20 to 35 cents a coin.

These days, despite a recent fall in cryptocurrency prices, the value of a Luna coin is up to around $50. Mr. vantKruys’ original investment? It’s now worth about $5 million on paper.

“Dude, man,” he said on a recent call, “we’re in some happy country.”