Ethereum Diamond Hands Score a Staggering $131 Million in Profits

- Ethereum Investor Achieves $131.72 Million in Profit Using HODL Strategy During 2022 Bear Market - Securing Stable Returns with Diamond Hands Strategy Amid Crypto Market Volatility [Unblock Media] A cryptocurrency investor achieved $131.72 million in profit by adopting a HODL (hold on for dear life) strategy with Ethereum (ETH) during the 2022 bear market. According to blockchain analytics firm Lookonchain, this investor significantly increased their initial investment despite market volatility by employing a diamond hands strategy (maintaining investments despite market fluctuations). The investor purchased 96,639 Ethereum on the Coinbase exchange between September 3 and 4, 2022, at approximately $1,567 per ETH, for a total investment of $151.42 million. The market atmosphere at the time was extremely unstable, with many investors contemplating selling due to anticipated price drops. Nonetheless, this investor chose to remain steadfast and pursue a long-term holding strategy. In March 2024, the investor transferred 70,000 of their initially purchased Ethereum to the Kraken exchange in multiple transactions. At the time of transfer, the market price of Ethereum was $3,062, bringing the total value of the transferred ETH to $214.34 million. Additionally, the investor still holds 26,639 Ethereum from the initial purchase, now valued at approximately $68.81 million. This case is being highlighted as a successful example of the diamond hands strategy, showcasing the potential for profit despite widespread fear and panic causing other investors to sell prematurely. Conversely, Lookonchain noted that selling too quickly based on fear can lead to long-term losses. The reason behind the growing interest in the diamond hands strategy among many investors today is the commitment to maintain investments long-term, even amid uncertain market conditions. Another notable example includes a Shiba Inu (SHIB) investor who converted an initial investment of $2,625 into $1.1 million. This investor bought 4.809 billion SHIB using 2 Ethereum on February 1, 2021, and recently sold it for 278.7 Ethereum, realizing a 419-fold profit. These investment cases illustrate how the HODL, or long-term holding strategy, can yield profits in the highly volatile and uncertain cryptocurrency market. However, not all long-term holding strategies succeed in the cryptocurrency market. During the Bitcoin frenzy of 2018, many investors who attempted the 'buy the dip' strategy suffered substantial losses. Bitcoin's price plummeted from $19,000 to $3,000, causing severe financial suffering for many investors.