The cryptocurrency domain is extremely lucrative, given the fact that one has an eye to search for beauty in heaps of products hindering one’s vision. The domain is known for delivering worthy gains to those who have a knack for identifying winners, the ones that can sustain the bouts of volatility that the crypto market is known for. Among such incidents, one lucky investor was able to gauge market prospects, banking on a single crypto that gave him gains worth 12971%. What is this entire setup all about? Let’s find out.

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One Lucky Investor Records 12971% Worth Of ETH Gains

As per the latest post by LookOnChain, an early Ethereum ICO participant’s wallet suddenly became active, moving nearly 1500 ETH tokens to Kraken. Per the details shared by the portal, this participant has received 20,000 ETH tokens at genesis, at a purchase cost of $6.2K. These tokens at the current ETH crypto market price are worth $80M, delivering returns worth 12971%.

“An #Ethereum ICO participant just woke up after nearly 8 years of dormancy, depositing 1,500 $ETH ($6M) to #Kraken for the first time. This OG (0x3690) received 20,000 $ETH at genesis, with a purchase cost of $6.2K, now worth $80.42M—a 12,971x return.”

What Eventually Helped in the Long Run?

Ethereum has now become a central blockchain, slowly evolving into a setup offering stellar stablecoin deployment ordeals.

“We’re tokenizing more than just the dollar; the stablecoin is the breakout product, which is a tokenized dollar. But as you know, Larry Fink and Robin Hood want to tokenize everything on the blockchain, and they’re going to build it on a neutral public chain, which is right now 70% happening on Ethereum.” FundStrat’s Tom Lee later shared.

Furthermore, crypto enthusiasts were quick to comment on the exceptional “hodl” strategy that this investor was able to bank on, and not cave into the crypto market pressure.

“Eight years of silence, one move, and $80M speak louder than words. That’s conviction, not luck. Most traders can’t hold for eight hours, let alone eight years.”

Also Read: Public Firms Hold $19 Billion in Ethereum: 95% Jump in 3 Months