The last two years have been filled with uncertainties for crypto investors. We’ve seen high volatility during this period. Coins like Bitcoin and Ethereum have been volatile.
This has confused traders about the best strategy: holding or selling at the earliest sight of profit. However, a smart crypto investor made as much as $131.72 million in profit by choosing to stay patient amid the fluctuating market conditions.
Investor Gains $131.72M by Holding Ethereum
The Ethereum holder made this profit by buying Ether in the last bear market and holding it until things got better. Lookonchain, a popular crypto analytics firm, tracked the activity of this investor, particularly drawn by the patience and resolve of this investor to hold and not give in to panic selling.
The Ethereum holder made their move between Sept. 3rd and 4th, 2022. The trader purchased 96,639 ETH from the Coinbase exchange. At the time, Ether was trading at around $1,567 per token.
This is a smart diamond hand, buying $ETH in the bear market and selling $ETH in the bull market, making $131.72M!
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
— Lookonchain (@lookonchain) September 22, 2024
This large buy amounted to approximately $151.42 million worth of Ethereum. Fast forward to March 2024, and this long-term approach paid off. The investor transferred 70,000 ETH, more than 72% of their initial stash, to Kraken. Ether’s price had risen to $3,062 by then, which made the transfer worth a massive $214.34 million.
What’s Left in the Wallet?
Despite sending a majority of the ETH to Kraken, the investor still holds onto 26,639 ETH in their original wallet. That remaining balance is currently valued at around $68.81 million, continuing to demonstrate the value of holding assets in a volatile market.
This investor’s story goes to prove that sticking to the long-term game plan pays off the most. This means traders who play by the “buy the dip” mindset ultimately enjoy long-term returns. This approach worked for a SHIB investor who turned a $2,625 investment into $1.1 million by holding the asset for three years.
Finally, a PEPE trader also struck gold, turning $3,000 into a mind-blowing $46 million. These stories show that buying during dark times can lead to massive gains.
Interested in understanding the current market condition? Read this article.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
