A long-term cryptocurrency investor has transformed $1,000 into $1 million, highlighting the rewards of holding strategies in digital assets.
The “diamond hand” crypto enthusiast turned their initial $1,000 BNB (BNB) investment into over $1 million, achieving a remarkable 1,000-fold return over eight years.
The investor acquired their holdings for just $1,000 when Binance’s native token traded at approximately $1 in 2017, according to blockchain data platform Lookonchain.
Despite the substantial gain, the trader continues to hold their BNB tokens instead of cashing out, according to data from blockchain intelligence platform Nansen.
The nearly $1 million profit coincides with the BNB token reaching a new all-time high of $1,005 on Tuesday, according to Cointelegraph data, reflecting increased investor anticipation for an upcoming altcoin season.
Three weeks ago, Raoul Pal, CEO of Global Macro Investor, suggested that the crypto market is in a “waiting room” before the next phase of price discovery, which may extend the market cycle peak to early 2026.
“Our analysis indicates (probabilistically speaking) that the cycle will likely extend into Q1 2026 and potentially Q2 2026 due to a slower business cycle requiring prolonged liquidity,” he stated in an Aug. 29 X post.
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BNB all-time high driven by unique utility
A variety of growth factors contributed to BNB’s recent peak above $1,000, highlighting the token’s native “utility,” according to Marwan Kawadri, DeFi lead and head of EMEA at BNB Chain.
BNB is a “distinct” network token experiencing increasing utility in centralized exchanges, generating heightened demand from institutional investors due to the “growing momentum of DATs focusing on high-quality assets like BNB,” Kawadri informed Cointelegraph.
“[BNB] continues to show strong growth momentum: more developers, more protocols, more capital, more users.”
This stimulates a “flywheel effect for the network and its native token,” he added.
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“Witnessing #BNB rise from a $0.10 ICO price eight years ago to today’s $1000 is beyond words,” stated Binance co-founder and former CEO Changpeng Zhao in a Thursday X post.
“We faced challenges along the way, but we persevered, built, and held on,” he added.
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