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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 27, 2023 08:30 UTC
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Here’s How a Crypto Investor Turned His $500K to a Whopping $13 Million!
An investor bought $500,000 worth of AAVE in 2020 and has since turned it into $13 million.
The investor recently sold some AAVE to take profits, but still holds $10 million worth.
AAVE's price could reach its previous high of $666, which would make the investor's holdings worth $100 million.
The cryptocurrency world is as giving as it is harsh, and stories of rapid success are common. However, a distinct narrative emerges, showcasing the power of patience and strategic investment. Consider an investment of $500,000 growing to an impressive $13 million in just three and a half years. This is the remarkable journey of an investor with Aave, a leading name in decentralized finance (DeFi).
Fascinating, right? Here’s how they did it.
The Beginning of it All: EthLend Days
The journey started when Aave was named EthLend. Recognizing its potential early on, the investor committed $500,000, acquiring 12.5 million LEND tokens at a value of $0.04 each. By 2020, Aave underwent changes, with LEND transitioning to AAVE at a conversion rate of 100:1. This transition increased the investor’s holdings to 125,000 AAVE tokens. Rather than selling immediately, the investor chose a patient approach.
Recent data highlights a significant move. Utilizing the Cumberland platform, the investor sold 30,000 AAVE tokens, realizing a substantial $3 million, marking a 500% profit on their initial investment. Importantly, they continue to hold over 100,000 AAVE tokens, currently valued at approximately $10 million.
While the investor’s approach proved fruitful, an intriguing scenario arises. If they had sold their tokens at AAVE’s peak value of $666 in May 2021, their 30,000 AAVE tokens could have been worth nearly $20 million.
Looking Ahead
With Aave’s current value at around $101.4, showing an 80% rise since the beginning of the year, the future looks promising. Should Aave reach its previous high, the investor’s holdings could approach an impressive $100 million. This story emphasizes the importance of patience and strategic investment in the crypto landscape.
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