Ethereum Investor Gains 131 Million by Holding Through 2022 Crypto Downturn

During the 2022 market crash, an Ethereum investor managed to earn an impressive profit of $131.72 million by holding onto their cryptocurrency. Lookonchain, a blockchain analytics platform, revealed that this investor purchased 96,639 ETH from Coinbase on September 3 and 4, 2022, when the price per Ethereum was $1,567.

While others were selling off their assets to avoid losses, this investor made a bold move by spending approximately $151.42 million on Ethereum. Instead of succumbing to the market’s uncertainty, they demonstrated “diamond hands,” a term used in the crypto world to describe investors who steadfastly hold onto their assets without panic-selling.

By March 2024, the price of Ethereum had surged to around $3,062. At this point, the investor decided to cash out a significant portion of their holdings, transferring 70,000 ETH to Kraken and receiving $214.34 million. Even after this substantial sale, they still hold 26,639 ETH, which is currently valued at approximately $68.81 million.

This successful strategy highlights the profitability of holding assets even during challenging times. However, it is important to note that holding onto crypto through downturns does come with risks. While this investor managed to earn significant profits, many others have experienced heavy losses by adopting the same approach.

Lookonchain has also shared other examples, such as a Shiba Inu investor who turned a $2,625 investment into $1.1 million. These stories emphasize the importance of patience and smart selling in the crypto world, as they can lead to substantial profits.

In conclusion, this Ethereum investor’s decision to hold onto their crypto during the 2022 market crash resulted in a remarkable profit of $131.72 million. It serves as a reminder of the potential rewards of holding assets during bear markets, but also highlights the risks involved. Patience and strategic selling are key factors that can lead to substantial gains in the volatile world of cryptocurrencies.