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According to blockchain tracking firm Lookonchain, a long-term Ethereum investor, recently realized a profit of $131.72 million after holding his Ether for two years. The individual purchased Ether during the 2022 bear market and has since held onto it through the market uncertainty. 
The investor acquired <a href="https://x.com/lookonchain/status/1837760199974858818" rel="nofollow" target="_blank">96,639 ETH</a> from Coinbase between September 3 and 4, 2022, when Ether was trading at approximately $1,567. This investment totaled around $151.43 million. 
<figure class="wp-block-image aligncenter wp-image-591164 size-full">
 <img loading="lazy" decoding="async" width="1920" height="964" class="wp-image-591164" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold.jpeg" alt="Long-term Ethereum investor reaps $131.72 million profit after two-year hold" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold.jpeg 1920w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold-300x151.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold-1200x603.jpeg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold-768x386.jpeg 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Long-term-Ethereum-investor-reaps-131.72-million-profit-after-two-year-hold-1536x771.jpeg 1536w" sizes="(max-width: 1920px) 100vw, 1920px"> 
 <figcaption class="wp-element-caption">
 Ethereum purchase timeline of the diamond hands Ethereum investor. Source: Lookonchain
 </figcaption> 
</figure> 
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. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-diamond-hands-generated-massive-profits-in-the-crypto-market-span">Diamond hands generated massive profits in the crypto market</h3> 
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: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 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! <cite>~Lookonchain</cite>
</blockquote> 
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. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-james-fickel-incurred-a-43-million-loss-in-a-failed-bitcoin-bet-span">James Fickel incurred a $43 million loss in a failed Bitcoin bet</h3> 
Crypto millionaire James Fickel and the founder of longevity research firm Amaranth Foundation, lost over 18,000 ETH, valued at $43.7 million by essentially betting on Ether’s price against Bitcoin. This hit increases his total debt to $132 million. 
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 <a href="https://x.com/lookonchain/status/1834849876171276389" rel="nofollow" target="_blank">Wrapped Bitcoin</a> (WBTC) on January 10, 2024. 
However, Ether has underperformed compared to Bitcoin since the beginning of the year. According to <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=VANTAGE%3ABTCETHhttps://www.tradingview.com/chart/3Z94myyP/?symbol=VANTAGE%3ABTCETH" target="_blank" rel="noopener">Binance </a>data, Ether’s price relative to Bitcoin has dropped by more than 24% year-to-date (YTD) and over 9% in the past month.

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

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