The field of cryptocurrencies is very lucrative given the fact that we have an eye for beauty in a mass of products that obstruct our vision. This domain is known for offering valuable returns to those who have a knack for identifying winners who can sustain the fierce battles of volatility that characterize the cryptocurrency market. In such an incident, one lucky investor was able to see the market outlook and was able to invest in a single cryptocurrency and earn a profit worth 12971%. What on earth is this whole setup? Let’s find out.
One lucky investor recorded ETH profit worth 12971%
According to LookOnChain’s latest post, an early Ethereum ICO participant’s wallet suddenly became active and nearly 1500 ETH tokens were moved to Kraken. According to details shared on the portal, this participant received 20,000 ETH tokens on Genesis for a purchase cost of $6.2,000. These tokens at the current ETH crypto market price are worth $80 million, giving a return equivalent to 12971%.
“An #Ethereum ICO participant woke up after about 8 years of dormancy and deposited $1,500 ETH ($6 million) into #Kraken for the first time. This OG (0x3690) received $20,000 ETH on Genesis, the purchase cost was $6.2 million, and it is now worth $80.42 million, representing a 12,971x return.”
What helped in the long run?
Ethereum is now the central blockchain and is slowly evolving into a setup that provides a good stablecoin deployment test.
“It’s not just the dollar that we’re tokenizing. Stablecoins are a revolutionary product that tokenizes the dollar. But as you know, Larry Fink and Robin Hood want to tokenize everything on the blockchain, and they’re trying to build the blockchain on a neutral public chain. Right now, 70% of that is done on Ethereum.” FundStrat’s Tom Lee later said:
Moreover, crypto enthusiasts were quick to comment on the exceptional “Hoddle” strategy that allowed this investor to succeed without bowing to the pressures of the crypto market.
“Eight years of silence, one move, and $80 million speaks louder than words. It’s faith, not luck. Most traders can’t last eight years, let alone eight hours.”
