Ethereum Whale Makes 900% Profit From His Investment
A recent Ethereum whale's success highlights the potential of a simple buy-and-hold strategy.
In February 2016, when Ethereum (ETH) was priced around $5, an investor acquired 16,636 ETH through the ShapeShift exchange, costing approximately $87,000.
After holding these tokens for over eight years, the investor began selling on September 16, 2024, realizing a gain of about $819,000 from selling 350 ETH at $2,340 each. The trader still retains ETH valued at over $38 million.
In a different scenario, a complex trading maneuver enabled another investor to purchase a $1.5 million NFT with a relatively modest $23,000 investment.
READ MORE: Ethereum Shines in Comparison to Bitcoin, New Analysis Shows
This was achieved through the fractionalization of CryptoPunk #2386 in 2020, which allowed ownership to be divided into 10,000 shares. The NFT was acquired on August 28 via a “shotgun” bid of 10 ETH, despite attempts to block the purchase.
Conversely, not all trading strategies yield positive results. On September 14, blockchain analytics firm Lookonchain reported that James Fickel, a prominent early ETH investor, suffered a $43 million loss from a bet on Bitcoin’s performance compared to ETH. This loss has escalated his total debt to $132 million.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
