Since the birth of the cryptocurrency world, many incredible wealth myths have emerged. Here are some of the most famous cryptocurrency myths:
### 1. Early Bitcoin Holders
Bitcoin is the earliest cryptocurrency and the birthplace of cryptocurrency myths. When Bitcoin first appeared in 2009, the price was almost zero, and some early holders obtained a large number of Bitcoins for a few cents or even for free. In May 2010, programmer Laszlo Hanyecz bought two pizzas with 10,000 Bitcoins, which was worth about $41 at the time, and these Bitcoins are now worth hundreds of millions of dollars [7†source]. Similar stories are common in the early Bitcoin community, and most of those who hold Bitcoin for a long time have now become billionaires.
### 2. Ethereum and the ICO boom
Ethereum is a smart contract platform launched by Vitalik Buterin and his team in 2015. Ethereum not only created a huge market value, but also triggered the ICO (Initial Coin Offering) boom in 2017. Many new projects raised funds by issuing tokens on the Ethereum platform, and some early investors received hundreds or even thousands of times the return. For example, investors who invested in the Ethereum ICO early saw their tokens rise from $0.31 to more than $4,000 in 2021.
### 3. The unexpected rise of Dogecoin
Dogecoin was originally created as a joke, but in 2021, its price skyrocketed due to the support of social media and public figures such as Elon Musk, and its market value once entered the top ten. Those who held a large number of Dogecoins early on have gained huge wealth. For example, there are reports that some early investors have become millionaires with only a few dollars of investment.
### 4. Chainlink and the explosion of DeFi
Chainlink (LINK) is another successful project that has seen its price surge in 2020 and 2021 by providing decentralized oracle services, making early holders lucrative. DeFi (decentralized finance) projects such as Uniswap, Aave, Compound, etc. have also brought huge returns to early investors. These projects use smart contracts to provide financial services, attracting a large amount of capital inflows.
### 5. NFT craze
The NFT (non-fungible token) market has experienced explosive growth in 2021 and 2022. The digital artist Beeple's work "Everydays: The First 5000 Days" was sold at Christie's auction house for $69.3 million, shocking the world. Similarly, NFTs from projects such as CryptoPunks and Bored Ape Yacht Club have also been hyped to sky-high prices, and many early buyers have received millions of dollars in returns.
### 6. The growth of anonymous coins and privacy coins
Some privacy coins and privacy coins, such as Monero (XMR) and Zcash (ZEC), have attracted the attention of specific investor groups due to their strong privacy protection features. The growth of these currencies in specific periods is also very significant, bringing considerable benefits to early holders.
### in conclusion
The coin circle myth shows the huge wealth creation potential in the cryptocurrency market, but also reminds investors that opportunities and risks coexist. Early holding and long-term persistence are common characteristics of many successful cases, but market volatility and regulatory risks cannot be ignored. Keeping learning and investing prudently are the keys to survival and success in this market full of opportunities and challenges.
### references
1. 【7†source】: CoinDesk. "Bitcoin Pizza Day: Celebrating the $80 Million Pizzas." [Link](https://www.coindesk.com/bitcoin-pizza-day-celebrating-the-80-million-pizzas)
2. : CoinTelegraph. "Ethereum: From 0.31 to $4,000, the Full Story." [Link](https://cointelegraph.com/ethereum-from-0-31-to-4000)
3. : CNBC. "Dogecoin: From Meme to Millions." [Link](https://www.cnbc.com/dogecoin-from-meme-to-millions)
