After days of challenging conditions, the crypto market has finally lifted in terms of a bullish push. Today has been the most promising, with a 3.82% increase in the global market capitalization, bringing it to a total of $2.15 Trillion. More importantly, a major improvement is seen in the investor’s sentiments, from the earlier environment of fear to neutral. Even Bitcoin price surged to $62K, and Ethereum’s 5% recovery to $2,430 has opened the profiting crypto trading opportunities for traders. Because of this, an Ethereum investor has returned to the market to make $12.85 Million from his earlier $15.5 K investment.
Ethereum Investor Won the $121.85M Crypto Trading Bet
Ethereum is the second biggest cryptocurrency, giving tough competition to Bitcoin. However, its performance has not been the best this year, especially this quarter, as the Ethereum price has plummeted 30%. Despite that, an early crypto ICO participant has come out of dormancy, depositing 10,000 ETH worth $23.37 Million on one of the most popular crypto exchanges, Kraken.
An #Ethereum ICO participant deposited 10,000 $ETH($24.37M) into #Kraken 15 minutes ago after being dormant for 2 years!
The participant received 50,000 $ETH(ICO cost was $15.5K, now worth $121.85M) at #GENESIS.https://t.co/cuEosgIONq pic.twitter.com/PK4KePNFvu
— Lookonchain (@lookonchain) September 19, 2024
The Lookonchain, a popular crypto analytics platform, has tracked this Ethereum investor’s deposit after being dormant for two years. As per the platform’s crypto news, the investor received 50,000 ETH in an ICO worth $15.5K two years ago, but today the same is worth $121.85, making a profit of $121,834,500.
After March’s bullish rally, another is on its way, as many analysts have predicted the same for the upcoming Uptober, a month historically seen as full of profits. Moreover, Ali, a crypto analyst, indicated the upcoming bull run.
#Bitcoin attempts to break through an important trend line. Closing today above $61,500 could signal the resumption of the bull market! #Uptober pic.twitter.com/CU2a38Jsdh
— Ali (@ali_charts) September 18, 2024
Many traders have already taken advantage of the current market, where three crypto traders made $2 Million after the NEIRO token surged 1000% overnight. Many other similar incidents in the current market have shown the profiting side of crypto trading. However, the uncertainties are also there.
Final Thoughts
In the ongoing crypto market, many dormant accounts have returned to make significant gains on their crypto trading holdings. One such Ethereum investor also returned to take advantage of his two-year patience, depositing 10K ETH on Kraken for $23.37 Million. He also holds another 40,000 ETH, which makes his holding worth $121.85 Million at the current market price. All the Ethereum this trader has gained for merely $15.5K has turned into $121.85 Million.
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