đ Diamond Hand Nets $131.7M Profit by Holding $ETH for 2 YEARS
An Ethereum investor with unwavering "diamond hands" turned a $151.42 million investment into $214.34 million, earning a massive $131.72 million profit during the crypto bear market of 2022. Instead of succumbing to market volatility, the investor held their Ether (ETH) for two years, reaping the rewards of the long-term hodl strategy. Blockchain analytics firm Lookonchain tracked the investor's activity, highlighting their commitment to holding through market fluctuations. Between Sept. 3 and 4, 2022, the investor purchased 96,639 ETH from Coinbase when the asset was trading at $1,567.
The key to this success? Patience. The investor held the bulk of their Ethereum through the 2022 bear market, a period marked by uncertainty and panic selling from others in the space. In March 2024, they moved 70,000 ETHâover 72% of their original investmentâonto Kraken. By then, Ether had surged to $3,062, pushing the value of the transfer to $214.34 million. Despite cashing out a significant portion, the investor still holds 26,639 ETH, currently worth $68.81 million, according to Lookonchain. This disciplined approach exemplifies the power of the hodl mindset, even in bearish market conditions.
Memecoins and Long-Term Success Stories: The buy-and-hold strategy isnât limited to blue-chip cryptos like Ethereum. Investors with similar "diamond hands" have seen equally spectacular returns with memecoins. A Shiba Inu (SHIB) investor recently turned a $2,625 investment into a whopping $1.1 million after holding for 3.5 years. Other stories, like one Pepe (PEPE) trader who turned $3,000 into $46 million during the meme coin boom, further underscore the value of patience and timing in crypto markets.
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