Ethereum

Diamond

Pepe

Shiba Inu

A cryptocurrency investor made a profit of $131.72 million by investing in Ether during the 2022 bear market and holding it through uncertain market conditions for two years.
Blockchain analytics firm Lookonchain identified an Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>) wallet address of an investor with diamond hands, showcasing the long-term losses associated with panic selling. Diamond hands refer to individuals who hold on to their investments amid market volatility and price fluctuations.
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 <img alt="Diamond hands Ethereum holder makes $131.7M in 2 years" name="" src="https://s3.cointelegraph.com/uploads/2024-09/019219a5-00f0-71a5-b25e-335bac4c8973">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/lookonchain/status/1837760199974858818" rel="null" target="null" text="null" title="https://x.com/lookonchain/status/1837760199974858818">Lookonchain</a>
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According to Lookonchain, the investor purchased 96,639 ETH from the Coinbase crypto exchange between Sept. 3 and 4, 2022. At the time, Ether was trading at roughly $1,567. 
<h2 id="reaping-profits-through-hodl-strategy">Reaping profits through hodl strategy </h2>
As a result, the whale investor acquired $151.42 million worth of ETH tokens in the process.&nbsp;
<figure>
 <img alt="Diamond hands Ethereum holder makes $131.7M in 2 years" name="" src="https://s3.cointelegraph.com/uploads/2024-09/019219a5-66a3-7587-a8a9-32180e70d0fa">
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 Ethereum purchase timeline of the diamond hands Ethereum investor. Source: Lookonchain
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In March 2024, the investor moved more than 72% of the initial investment (70,000 ETH) to the crypto exchange Kraken through multiple transactions. At the time of transfer, the market price of Ether was $3,062, representing $214.34 million worth of transfer.&nbsp;
<figure>
 <img alt="Diamond hands Ethereum holder makes $131.7M in 2 years" name="" src="https://s3.cointelegraph.com/uploads/2024-09/019219a5-e354-7f66-aecb-b8419ff51571">
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 Onchain history of Ethereum deposits by a diamond hands investor. Source: Lookonchain
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Apart from the recent Kraken transfers, the investor holds 26,639 ETH in their wallet from the original purchase, which currently stands at $68.81 million.
<h2 id="diamond-hand-investors-eye-memecoins">Diamond hand investors eye memecoins</h2>
Throughout the years, the buy-the-dip mindset has enabled crypto investors to record high long-term returns.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mt-gox-creditors-hodl-bitcoin-btc-price" rel="null" target="null" text="null" title="null">Diamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year wait</a>
 Recently, a Shiba Inu (<a data-ct-non-breakable="null" href="https://cointelegraph.com/shiba-inu-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/shiba-inu-price-index">SHIB</a>) investor with diamond hands made a $1.1 million profit on a $2,625 investment following a three-year wait. Lookonchain noted:
<blockquote>
 “After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit. He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb. 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!”
</blockquote>
The trade occurred two weeks after another savvy crypto trader turned $3,000 worth of Pepe into $46 million by trading the Pepe (<a data-ct-non-breakable="null" href="https://cointelegraph.com/pepe-price-index" rel="null" target="null" text="null" title="null">PEPE</a>) memecoin during the reemergence of the GameStop saga, which boosted the price of certain memecoins.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-printing-tokens-bots-subsidies/" rel="null" target="null" text="null" title="null">What Solana’s critics get right… and what they get wrong</a>

Diamond hands Ethereum holder makes $131.7M in 2 years

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