Long-term Ethereum investor reaps $131.72 million profit after two-year hold

The investor acquired 96,639 ETH from Coinbase between September 3 and 4, 2022, when Ether was trading at approximately $1,567. This investment totaled around $151.43 million.

At the beginning of the year, the investor transferred over 72% of their initial investment (70,000 ETH) to the Kraken exchange through several transactions. Ether’s market price had risen to $3,062 at the time of writing, making the transfer worth approximately $214.34 million.

In addition to the recent transfers from Kraken, this investor holds 26,639 ETH in their wallet from the original purchase, valued at approximately $68.81 million.

Diamond hands generated massive profits in the crypto market

Over the years, a buy-the-dip mentality has allowed crypto investors to achieve significant long-term gains. A notable example is a Shiba Inu (SHIB) investor with diamond hands who recently realized a $1.1 million profit from a $2,625 investment after a three-year wait. Lookonchain reported:

After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit. They purchased 48.09 billion $SHIB for 2 ETH ($2,625) on February 1, 2021, and sold it for 278.7 ETH ($1.1 million), resulting in a gain of 419x!

~Lookonchain

This trade occurred just two weeks after another savvy trader transformed a $3,000 investment in the Pepe (PEPE) memecoin into $46 million during the resurgence of the GameStop saga, which propelled certain memecoins to new heights.

James Fickel incurred a $43 million loss in a failed Bitcoin bet

According to a September 14 post by Lookonchain, millionaire James Fickel anticipated that Ether’s price would rise against Bitcoin when he first borrowed $172 million worth of Wrapped Bitcoin (WBTC) on January 10, 2024.