The past month has witnessed an extreme downturn in the crypto market. The current market cap of the cryptocurrency sector sits at $947 billion, down from its all-time high of more than $3 billion.
As a result of impending recessionary fears, the overall macroeconomic climate, and industry problems experienced in the sector, retail investors globally are in large-scale losses. Major cryptocurrencies are down more than 80% from prior all-time highs.
Ethereum (CRYPTO: ETH) is currently trading at $1,215, down from its all-time high of $4,891. Dogecoin (CRYPTO: DOGE) is presently at $0.0707, down from its all-time high of $0.7376. Another famous meme coin, Shiba Inu (CRYPTO: SHIB) is down from its all-time high of $0.00008616, presently trading at $0.00001091. Solana (CRYPTO: SOL), an altcoin that grew exponentially last year, is currently trading at $38.69, under its all-time high of $260.06.
Also Read: Happy Tesla IPO Anniversary: Here's How Much Investing $1,000 In The Tesla IPO Is Worth Today
With $250 invested in Ethereum one year ago today at $2,160, the initial investment would be worth 56.25% of its initial value currently at $140.60.
With $250 invested in Dogecoin one year ago today at $0.2628, the initial investment would be worth 26.9% of its initial value, currently at $67.25.
And $250 invested in Shiba Inu a year ago today at $0.00000885, would be worth 970% of its initial value at $2,433.
Finally, $250 invested in Solana a year ago today at $33.87 would be currently worth $285.50, up 11.42% on the initial investment.
If a retail investor had invested $1,000 equally split across Ethereum, Dogecoin, Shiba Inu and Solana, their investment would now be worth $2,926.35.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.