As a seasoned cryptocurrency investor with over a decade of experience under my belt, I can’t help but feel a mix of admiration and envy upon reading about these success stories. The Ether trader who made a staggering $131.72 million profit during the 2022 bear market is a shining example of the power of patience and foresight in this volatile market.
A cryptocurrency trader has made headlines by securing a profit of $131.72 million through a strategic investment in Ether (ETH).
During the 2022 bear market, this significant trade was executed. Subsequently, the owner retained the assets amidst turbulent market fluctuations.
The Investors Strategy
According to blockchain analysis company Lookonchain, they’ve found an Ethereum account that earned approximately $131.72 million by investing during the 2022 bear market, a time when many investors were losing faith as asset prices dropped.
As an analyst, I’ve been strategically playing the Ethereum market, purchasing ETH during the bear phase and offloading it during the bull run, raking in a profit of approximately $131.72 million.
The wallet’s transaction history indicates a purchase of 96,639 Ether from Coinbase on September 3-4, 2022, when the price was around $1,567. Despite significant market upheavals over the past two years, they chose to keep their investment. This decision turned out to be lucrative as the asset’s value rebounded in subsequent years.
By March 2024, they transferred over 72% or approximately 70,000 Ether coins in several transactions to the digital currency platform, Kraken.
During these transactions, the value of Ether skyrocketed to approximately $3,062 each, totaling transfers worth a staggering $214.34 million. Yet, despite these fluctuations, the address retained 26,639 Ether from the initial purchase, now worth a substantial $68.81 million.
This occurrence illustrates the idea behind “diamond hand” investors, a label given to people who maintain their investment holdings even when markets are turbulent or asset prices are changing rapidly. These investors choose not to sell their assets during market downturns, instead having faith in the future value of their investments.
Other Similar Events
Lately, the digital currency market has been witnessing some impressive victories. An example of this is an investor in Shiba Inu (SHIB), who patiently held onto their investment for three years, turning a $2,625 initial investment into a profit of $1.1 million.
As a researcher examining investment trends, I recently discovered an intriguing case: an investor who had remained inactive for approximately three and a half years before making a profitable sale of SHIB tokens. On February 1, 2021, this individual invested 2 ETH (equivalent to $2,625 at the time) to purchase an enormous sum of 48.09 billion SHIB. Fast forward just over nine months, and they managed to sell their SHIB holdings for a staggering 278.7 ETH ($1.1 million), representing a return on investment of a mind-boggling 419 times their initial outlay.
In the same vein, about two weeks ago, another investor transformed an initial investment of $3,000 in the PEPE meme token into an astonishing $46 million over the course of a year. This translates to a staggering 15,718-fold return on investment.
The revival of the GameStop story played a significant role in triggering a surge in the value of some meme cryptocurrencies during that period.
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2024-09-23 21:38