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Ethereum (ETH) has gained 4.61% in the last seven days, 27.25% in 30 days and 68.27% within the past one year. This positive outlook has caught the attention of an Ethereum Initial Coin Offering (ICO) participant from 2014.
Ethereum community reacts to 14,269x gains
As per Lookonchain data, after 10 years of dormancy, the ETH ICO participant has transferred all of his assets of 334.7 ETH. Notably, in 2014, Ethereum sold at a relatively low price, and the investor acquired the coins for $104.
With the recent transfer and at the current market price, the investor has made a 14,269x gain on his investment. The total value of the coin today is about $1.48 million. A staggering amount of profit considering he invested just about $104 in the ICO.
The holder’s ability to leave the coins untouched in his wallet for over 10 years has sparked conversation in the community. He left it without trading, selling, or moving them. Many consider it the typical example of how profitable it could be to hold an asset long-term.
A user in the community noted that "stories like this remind why conviction beats trading noise."
It has also triggered discussions about crypto wealth and how a tiny early investment could pay off and make one a millionaire from the returns.
Ethereum price declines despite strong market outlook
As of this writing, Ethereum is changing hands at $4,392.11, representing a 5.43% decline in the last 24 hours. It dipped from an intraday peak of $4,663.55 to its current price level. Similarly, trading volume has dropped significantly by 28.64% to $51.5 billion.
Market observers are monitoring developments to see how the broader macroeconomic factors impact the leading altcoin.
Prior to the current market setup, all Ethereum holders were in profit when the price soared to $4,763. As of then, investors were eyeing $5,000 as the next possible all-time high (ATH) for the asset. For now, the wait for a new ATH to wipe the previous one set four years ago continues.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team