{"id":93442,"date":"2024-09-16T06:29:30","date_gmt":"2024-09-16T10:29:30","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=93442"},"modified":"2024-09-16T06:29:35","modified_gmt":"2024-09-16T10:29:35","slug":"eth-whale-turns-87k-into-40m-after-8-year-hodl","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eth-whale-turns-87k-into-40m-after-8-year-hodl\/","title":{"rendered":"ETH Whale turns $87K into almost $40M after 8-year Hodl"},"content":{"rendered":"\n

The Ether whale acquired 16,636 ETH on the ShapeShift crypto exchange<\/a> at $5.23 per token in 2016, now worth over $40 million in 2024. <\/p>\n\n\n\n

\"ETH
ETH Whale turns $87K into almost $40M after 8-year Hodl<\/figcaption><\/figure>\n\n\n\n

A recent example from an Ether whale demonstrates that a straightforward buy-and-hold approach can also deliver remarkable results, although complex trading strategies can generate significant profits for investors.<\/p>\n\n\n\n

Ether was trading at approximately $5 per token in February 2016. At that time, an investor acquired 16,636 ETH on the ShapeShift cryptocurrency exchange.<\/p>\n\n\n\n

EmberCN, a Chinese crypto data account, reported that the tokens were acquired at $5.23 per token, resulting in a total cost of $87,006.<\/p>\n\n\n\n

\"Trader
Trader moves millions in ETH after eight years. Source:\u00a0<\/em>Etherscan<\/em>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

The blockchain analytics account reported that it began selling some of its holdings after possessing them for over eight years. <\/p>\n\n\n\n

The trader sold 350 ETH at $2,340 per token on September 16, resulting in an initial gain of $819,000, nearly ten times the capital.<\/p>\n\n\n\n

After the transaction, the trader still possesses more than $38 million in ETH.<\/p>\n\n\n\n

Trader acquires $1.5 million in NFT for 10 ETH<\/h2>\n\n\n\n

Although a straightforward buy-and-hold strategy can yield significant results over time, a more intricate maneuver has enabled a trader to acquire a $1.5 million non-fungible token (NFT) for a mere $23,000.<\/p>\n\n\n\n

Fractionalization, which involves the division of possession of high-value digital collectibles, became a popular trend in 2020. <\/p>\n\n\n\n

CryptoPunk #2386, an uncommon NFT with a headband and shades, was one of the NFTs that became fragmented then.<\/p>\n\n\n\n

The NFT was divided into 10,000 shares and distributed to 257 proprietors through a platform known as Niftex, which has since been decommissioned. The smart contracts <\/a>of the platform, which are now defunct, continued to exist on the blockchain, enabling its features to function.<\/p>\n\n\n\n

The smart contract allows traders to establish a purchase amount to propose a “shotgun” proposal to acquire the fractionalized NFT. If no one contests the proposal, the bidder will receive the asset after 14 days.<\/p>\n\n\n\n

A speculator proposed a 10 ETH buyout for the blue-chip NFT on August 28. Although some attempted to obstruct the acquisition, the CryptoPunk was ultimately acquired.<\/p>\n\n\n\n

Trader loses $43 million on an ETH-BTC wager<\/h2>\n\n\n\n

Although many individuals profit from cryptocurrency trading, others incur substantial losses when circumstances do not unfold as anticipated. <\/p>\n\n\n\n

On September 14, the blockchain analytics platform Lookonchain reported that crypto millionaire James Fickel had lost a $43 million wager, resulting in a $132 million debt.<\/p>\n\n\n\n

The proprietor of the research firm Amaranth Foundation<\/use><\/svg><\/span><\/a> and an early investor in ETH anticipated that Bitcoin's price would increase compared to ETH. <\/p>\n\n\n\n

Consequently, the merchant placed a wager on the expected outcome. Nevertheless, Bitcoin outperformed ETH, resulting in the investor's loss on the wager.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ether whale acquired 16,636 ETH on the ShapeShift crypto exchange at $5.23 per token in 2016, now worth over $40 million in 2024. A recent example from an Ether whale demonstrates that a straightforward buy-and-hold approach can also deliver remarkable results, although complex trading strategies can generate significant profits for investors. Ether was trading […]<\/p>\n","protected":false},"author":12,"featured_media":92874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[153,4421,4015],"class_list":["post-93442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-eth","tag-ethereum-price","tag-hodl"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/Based-Rollups-Proposed-as-Solution-for-Ethereum-Incentive.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=93442"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/92874"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=93442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=93442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=93442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}