Long-term Ethereum investor reaps $131.72 million profit after two-year hold
The post Long-term Ethereum investor reaps $131.72 million profit after two-year hold appeared on BitcoinEthereumNews.com.
According to blockchain tracking firm Lookonchain, a long-term Ethereum investor, recently realized a profit of $131.72 million after holding his Ether for two years. The individual purchased Ether during the 2022 bear market and has since held onto it through the market uncertainty. The investor acquired 96,639 ETH from Coinbase between September 3 and 4, 2022, when Ether was trading at approximately $1,567. This investment totaled around $151.43 million. Ethereum purchase timeline of the diamond hands Ethereum investor. Source: Lookonchain At the beginning of the year, the investor transferred over 72% of their initial investment (70,000 ETH) to the Kraken exchange through several transactions. Ether’s market price had risen to $3,062 at the time of writing, making the transfer worth approximately $214.34 million. In addition to the recent transfers from Kraken, this investor holds 26,639 ETH in their wallet from the original purchase, valued at approximately $68.81 million. Diamond hands generated massive profits in the crypto market Over the years, a buy-the-dip mentality has allowed crypto investors to achieve significant long-term gains. A notable example is a Shiba Inu (SHIB) investor with diamond hands who recently realized a $1.1 million profit from a $2,625 investment after a three-year wait. Lookonchain reported: After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit. They purchased 48.09 billion $SHIB for 2 ETH ($2,625) on February 1, 2021, and sold it for 278.7 ETH ($1.1 million), resulting in a gain of 419x! ~Lookonchain This trade occurred just two weeks after another savvy trader transformed a $3,000 investment in the Pepe (PEPE) memecoin into $46 million during the resurgence of the GameStop saga, which propelled certain memecoins to new heights. James Fickel incurred a $43 million loss in a failed Bitcoin bet Crypto millionaire James Fickel and the founder…
Filed under: News - @ September 23, 2024 12:26 am