Originally published on: September 22, 2024
Imagine making a profit of $131.72 million by investing in Ethereum during a bear market and keeping the faith through market uncertainty for two years. Well, that’s exactly what one cryptocurrency investor achieved.
Identified by blockchain analytics firm Lookonchain, this Ethereum investor with “diamond hands” demonstrated the power of holding onto investments amidst market turbulence, avoiding the pitfalls of panic selling.
According to Lookonchain, the investor bought 96,639 ETH from Coinbase between September 3 and 4, 2022, when Ethereum was trading at around $1,567 per token, amassing a staggering $151.42 million worth of ETH.
Fast forward to March 2024, and the investor transferred 70,000 ETH (more than 72% of the initial investment) to Kraken, at a market price of $3,062 per Ether, totaling $214.34 million in this transaction alone.
Even after this substantial transfer, the investor still holds 26,639 ETH in their wallet from the original purchase, currently valued at $68.81 million, showcasing the impressive long-term returns enabled by a buy-the-dip mentality.
This isn’t an isolated success story. Recently, a diamond hands Shiba Inu investor turned a $2,625 investment into a $1.1 million profit after three years. And let’s not forget the trader who transformed $3,000 worth of Pepe into a jaw-dropping $46 million during the Pepememecoin surge tied to the GameStop saga.
The lesson? Holding through market fluctuations might just lead to monumental gains.
