Story Highlights
Ethereum investor earned $131.72 million by holding during the 2022 crypto crash.
Investor purchased 96,639 ETH in 2022 at $1,567 per Ethereum amid market uncertainty.
The investor still holds 26,639 ETH, valued at approximately $68.81 million today.
An Ethereum investor just made an incredible $131.72 million by holding onto their
Ethereum (ETH)
during the 2022 crypto crash. According to the blockchain analytics platform Lookonchain, this savvy investor bought 96,639 ETH from Coinbase on September 3 and 4, 2022, when the price was just $1,567 per ETH.
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Big Gamble During the Crash Pays Off
As per Lookonchain analysis, the investor’s initial purchase amounted to roughly $151.42 million, a bold move during the 2022 crypto market crash where many people were selling off their assets to minimize their losses.
This is a smart diamond hand, buying
$ETH
in the bear market and selling
$ETH
in the bull market, making $131.72M!
This whale bought 96,639
$ETH
($151.42M) from
#Coinbase
at $1,567 on Sept 3 and Sept 4, 2022.
Then deposited 70,000
$ETH
($214.34M) at $3,062 to
#Kraken
since Mar…
pic.twitter.com/yuAe5LMy7h
— Lookonchain (@lookonchain)
September 22, 2024
But instead of selling, this investor held on to their Ethereum despite the market’s uncertainty, showing what the crypto world calls “
diamond hands
.” It means investors who steadfastly hold onto their assets through market fluctuations without panic-selling.
Fast forward to March 2024, and Ethereum’s price surged to about $3,062. This investor moved around 72% of the initial invested amount of 70,000 ETH to Kraken, cashing out $214.34 million. Even after selling a big chunk, they still hold 26,639 ETH, which is currently valued at about $68.81 million.
This successful strategy was incredibly profitable, showing the power of holding assets even in tough times.
Is Holding the Key to Success?
While the investor’s profit is impressive, it also highlights the unpredictability of the crypto market. Holding assets through bear markets can be rewarding, but it comes with risks. For every success story like this one, numerous examples exist of investors losing substantial amounts.
Lookonchain has
tracked similar stories recently
, including a Shiba Inu (SHIB) investor who made $1.1 million from a $2,625 investment, showing how patience and strategic selling can lead to large gains.
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