Key Takeaways:
- An Ethereum investor made $131.7 million by holding 96,639 ETH for two years, showcasing the “diamond hands” strategy.
- The investor transferred 70,000 ETH to Kraken in March 2024 after Ethereum’s price surged to $3,062.
- Long-term holding in volatile markets can yield significant profits, as seen with both Ethereum and Shiba Inu.
An Ethereum investor made a remarkable $131.7 million profit by holding onto their Ether (ETH) for two years, demonstrating the benefits of a long-term “diamond hands” strategy.
The investor bought 96,639 ETH in September 2022, when the price was around $1,567, totaling $151.42 million.
This is a smart diamond hand, buying $ETH in the bear market and selling $ETH in the bull market, making $131.72M!
— Lookonchain (@lookonchain) September 22, 2024
This whale bought 96,639 $ETH($151.42M) from #Coinbase at $1,567 on Sept 3 and Sept 4, 2022.
Then deposited 70,000 $ETH($214.34M) at $3,062 to #Kraken since Mar… pic.twitter.com/yuAe5LMy7h
By March 2024, with Ethereum’s price rising to $3,062, the investor transferred 70,000 ETH, worth $214.34 million, to the Kraken exchange.
Despite this, the investor still holds 26,639 ETH, currently valued at $68.81 million.
This case highlights the potential of a long-term holding strategy during market volatility, similar to a Shiba Inu (SHIB) investor who turned $2,625 into $1.1 million by holding for 3.5 years.
These examples emphasize the effectiveness of patience in volatile cryptocurrency markets.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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