Ethereum

2024

when

Shiba Inu

An Ethereum whale made a $131.72 million profit by buying Ethereum during the bear market in 2022 and HODLing it through rough conditions for over two years.&nbsp; 
According to recent data by Lookonchain, a wallet supposedly linked to an Eth whale bought 96,639 ETH on 3rd and 4th September, 2022. The whale had bought these coins from the cryptocurrency exchange, Coinbase.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 This is a smart diamond hand, buying <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> in the bear market and selling <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> in the bull market, making $131.72M! 
 This whale bought 96,639 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a>($151.42M) from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Coinbase</a> at $1,567 on Sept 3 and Sept 4, 2022. 
 Then deposited 70,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a>($214.34M) at $3,062 to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Kraken</a> since Mar… <a href="https://t.co/yuAe5LMy7h" rel="nofollow" target="_blank">pic.twitter.com/yuAe5LMy7h</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1837760199974858818?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">September 22, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The blockchain analytics firm referred to the investor as someone with diamond hands, which refers to a person who holds assets through periods of extreme volatility regardless of the price action and fluctuations.&nbsp; 
At the time when the whale made the purchase, Ethereum was trading at approximately $1,567. This resulted in the whale receiving $151.42 million worth of ETH.&nbsp; 
<img loading="lazy" decoding="async" class="alignnone wp-image-591088 size-large" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa-1200x603.jpeg" alt="" width="1200" height="603" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa-1200x603.jpeg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa-300x151.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa-768x386.jpeg 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa-1536x771.jpeg 1536w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-66a3-7587-a8a9-32180e70d0fa.jpeg 1920w" sizes="(max-width: 1200px) 100vw, 1200px"> 
Recently, in March 2024, the whale moved over 72% of the investment to Kraken in multiple transactions. This constituted over 70,000 Ethereum coins. At that time, the price of each Ethereum was about $3,062. This means that the investor transferred almost $214.34 million in fiat.&nbsp; 
<img loading="lazy" decoding="async" class="alignnone wp-image-591089 size-large" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-e354-7f66-aecb-b8419ff51571-1200x720.jpeg" alt="" width="1200" height="720" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-e354-7f66-aecb-b8419ff51571-1200x720.jpeg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-e354-7f66-aecb-b8419ff51571-300x180.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-e354-7f66-aecb-b8419ff51571-768x461.jpeg 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/019219a5-e354-7f66-aecb-b8419ff51571.jpeg 1386w" sizes="(max-width: 1200px) 100vw, 1200px"> 
However, it’s still not over, because the whale is still currently holding 26,639 ETH in the original wallet from which the purchase was made. This is equivalent to $68.1 million based on the current pricing of $ETH.&nbsp; 
<h3 id="span-style-font-weight-400-smart-whales-continue-to-buy-the-dips-span">Smart whales continue to buy the dips&nbsp;</h3> 
Smart–money whales often follow a concept called buy-the-dips, where they purchase the dips on well-known and established cryptocurrencies, hoping for an upwards retracement.&nbsp; 
In a similar scenario, a Shiba Inu investor ended up making a profit of $1.1 million on an investment of only $2,625 after waiting for over three years. This particular trader’s account remained dormant for this time, according to data from Lookonchain.&nbsp; 
This was only two weeks after another trader made $46 million from Pepe with an original investment of only $3,000. In all these cases, the traders held through volatility and uncertain market conditions, hence proved their diamond-handing mindset.

Eth whale makes $131.72M profit by HODLing through the bear market

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