Ethereum traders have achieved one of the most impressive runs in recent past. He exchanged initial capital of $125,000 and within four months he converted it to $29.6 million.
His success was due to careful management of long ethereum ($eth) holdings using high lipids.
According to on-chain statistics, traders opened two accounts and deposited $125,000. To optimize his income, he made profits worse over time, reverting all profits back to long Ethereum trades.
Develop a large Ethereum location
For four months, the technique allowed him to increase his holdings to 66,749 ETH. This is worth more than $303 million at its current price.
He never cashed out of his position. Instead, he reinvests his profits into a larger position and harnesses those profits every time he experiences price increases.
The risk of the strategy was extremely high, but it was a disciplined compounding strategy that brought about exponential growth. The trader who kept long at Ethereum while the market was entering the bullish phase was able to increase his initial capital, which has been labelled as legend by market analysts by 236 times.
Ethereum is currently trading at around $4,530, making the market seem more optimistic. Such a large profit indicates how beneficial a leveraged transaction is when conditions are favorable.
An unusual success story
There are many cryptocurrency success stories, but few are more important in such a short time. Trader’s profits of $29,600,000 from an initial investment of $125,000 indicate what happens in high-risk, high-reward trading.
With Ethereum’s prices continuing to rise, traders are interested in seeing if the traders maintain their huge holdings or make profits. Anyway, the transaction is already in a book on the history of crypto trading.
