Ethereum whale earned $ 131 million in two years

One cryptocurrency investor earned $ 131.72 million by purchasing Ethereum ETH $2,683.51 Bridged Ether (StarkGate) -0.91% Market capitalization $0.2 billion VOL. 24 hours $0.36 billion during the market downturn in 2022 and holding it for two years of uncertainty.

According to analytics company Lookonchain, the digital asset owner purchased 96,639 ETH on the Coinbase platform in early September 2022, when the price of Ethereum was approximately $ 1567 per unit. Despite the market fluctuations, he did not panic and followed a «diamond hands» strategy, i.e., did not sell assets during price declines.

Thanks to a long-term holding strategy, the value of ETH in his portfolio increased to $ 151.42 million. In March 2024, the investor transferred 70,000 ETH (approximately 72% of the initial purchase) to the Kraken exchange when the price of Ethereum reached $ 3062. At that time, the value of the transferred assets was $ 214.34 million.

The trader still had 26,639 ETH in his wallet, which is now valued at $ 68.81 million. The strategy of buying assets during market downturns allows many crypto investors to make significant profits in the long run. For example, one investor in Shiba Inu earned $ 1.1 million after waiting for three years, and another trader turned $ 3000 into $ 46 million by speculating on the Pepe meme coin.