A trader that invested in Ethereum’s ICO nine years ago at a price of $0.31 appears to have cashed out a portion of their position for $3.7 million, on-chain analytics platform Lookonchain tweeted on X on Tuesday.
An #Ethereum ICO participant woke up after 9 years of dormancy and transferred 1,111 $ETH($3.7M) to a new wallet.
He received 2,000 $ETH($6.67M) at #Ethereum Genesis, the $ETH ICO price is ~$0.31.https://t.co/5RySljuw7R pic.twitter.com/fMoaDcmFfB
— Lookonchain (@lookonchain) July 30, 2024
The trader recieved 2,000 ETH tokens at the genesis of the Ethereum blockchain. These 2,000 tokens would have cost $620.
And after nine years of dormancy, they just transferred 1,111 worth $3.7 million to a new wallet. These tokens would have cost $344 in the Ethereum ICO.
Presumably, that could mean the trader is cashing out a portion of their holdings.
$344 to $3.7 million means that this investor could have bagged a 10,750x return.
And they would still ETH tokens worth close to $3 million left over to sell.
An amazing rags to riches story for this investor that shows the key to making money in crypto – getting in early.
Its Early Days for GambleFi
While the GambleFi sector is still relatively new, it has experienced exponential growth.
Current event betting market Polymarket has seen a surge in popularity in recent months.
Polymarket’s Total Value Locked (TVL) has risen to over $88.6 million, up from under $10 million in late 2023, according to DeFi Llama.
Crypto casinos have also witnessed strong growth in recent quarters. Major Ethereum-based GambleFi apps have continued to attract new users since their explosive launch last year.
As a result, analysts at Cryptonews.com are keeping a keen eye on new GambleFi projects that could go on to take the sector by storm.
And one they think have a lot of potential is a fast growing crypto casino Mega Dice (DICE).
Mega Dice (DICE) – 2024’s Ethereum ICO?
Mega Dice is a well-established crypto casino with over 10,000 monthly users and $50 million in monthly wagers.
The crypto casino is expanding its utility and Web3 integration with a token launch — the new DICE GambleFi token.
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Here’s why $DICE is set to become the leading GameFi token, outpacing all… pic.twitter.com/Y3KZDxmkHH
— Mega Dice Casino (@megadice) July 31, 2024
DICE holders can enjoy cashback benefits on their wagers, access limited edition NFTs, and benefit from passive income through staking and a generous refer-to-earn program. The project is also offering a $750,000 airdrop to early presale investors.
With its strong user base and expanding features, Mega Dice’s DICE token offers investors a compelling opportunity to participate in the growing GambleFi sector.
DICE holders can benefit from passive income, NFT rewards, and cashback benefits.
The presale has already raised over $1.6 million, with DICE currently available at $0.100025 each.
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The post Trader Turns $0.31 Ethereum ICO Investment into $3.7 Million appeared first on Cryptonews.
#IndustryTalk #ETH #Ethereum #EthereumICO [Source: CryptoNews]