While complex trading strategies are often associated with high profits, a recent Ether (CRYPTO: ETH) whale’s straightforward approach proves that simplicity can also yield substantial returns.
What Happened: In February 2016, when Ether was trading at around $5 per token, an investor purchased 16,636 ETH through the crypto exchange ShapeShift, according to Chinese crypto data account EmberCN.
The total cost at the time was approximately $87,006, with each token acquired at $5.23.
After holding the tokens for over eight years, the investor recently began selling off parts of their holdings.
On Sep. 16, they sold 350 ETH at a price of $2,340 per token, yielding an impressive gain of $819,000—nearly ten times the …
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