Originally published on: September 22, 2024
A savvy cryptocurrency investor managed to rake in a whopping $131.7 million by holding onto their Ethereum amidst market volatility and uncertainty for a period of two years.
The investor, identified by blockchain analytics firm Lookonchain, demonstrated the power of having ‘diamond hands’ in the crypto world. Diamond hands signify individuals who remain steadfast in their investments despite turbulent market conditions and price fluctuations.
According to Lookonchain, the investor initially purchased 96,639 ETH from the Coinbase exchange in September 2022 when Ether was trading around $1,567 per token. The total value of the ETH tokens acquired amounted to $151.42 million at the time.
Fast forward to March 2024, the investor transferred over 70,000 ETH (equivalent to $214.34 million) to the Kraken exchange through multiple transactions, keeping the remaining 26,639 ETH (currently valued at $68.81 million) from the original purchase in their wallet.
The impressive profit made by the diamond hands investor showcases the potential for high long-term returns in the crypto market by maintaining a ‘buy-the-dip’ attitude.
In a similar vein, other crypto investors have seen substantial gains by holding onto their investments, such as a Shiba Inu supporter who turned a $2,625 investment into $1.1 million after a three-year holding period. Additionally, a trader managed to convert $3,000 worth of Pepe into a staggering $46 million by capitalizing on the Pepememecoin during the resurgence of the GameStop saga.
While critics may raise concerns about cryptocurrencies like Solana, the success stories of investors with ‘diamond hands’ continue to defy expectations and inspire confidence in the ever-evolving world of digital assets.
