Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

If You Invested $1,000 In Ethereum At The End Of 2018, Here's How Much You Would Have

Published 06/05/2023, 14:48
Updated 06/05/2023, 16:10
© Reuters.  If You Invested $1,000 In Ethereum At The End Of 2018, Here's How Much You Would Have
ETH/EUR
-
ETH/USD
-
ETH/USD
-
ETH/EUR
-
ETH/JPY
-
ETH/GBP
-
ETH/JPY
-

Benzinga - Ethereum (CRYPTO: ETH) has outperformed the rest of its peers, as an improvement in risk appetite has generated some strength in the cryptocurrency space since Friday.

Ethereum Price Action: Ethereum, the second-biggest crypto, has been on a broad uptrend since it bottomed under $1,100 in Nov. 2022. The upward momentum was temporarily muted, as financial assets teetered amid economic and political uncertainties.

On June 18, 2022, Ethereum hit a low of $896.11 before staging a comeback. The peak-trough pullback between that low and the crypto's all-time high of $4,718.04 (which was reached on Nov. 9, 2021) was about 80%.

With the rally beginning Friday, Ethereum has managed to break out of a consolidation phase seen since late April.

At last check, Ethereum traded 1.35% higher at $1,933.04, according to Benzinga Pro data.

What's Behind Ethereum's Outperformance: Ethereum has been getting a lift in recent sessions thanks to the successful implementation of the Shanghai and Capella Hard Fork. These upgrades are expected to improve the crypto's Mainnet performance, a testament to the fact that the blockchain has been fully tested, developed, deployed and running on its own technology and protocol.

The upgrades are also expected to improve the blockchain's security layers and energy efficiency. More importantly, they could help lower the gas fees associated with the operation of layer-2 solutions running on top of Ethereum.

Return From Ethereum: A $1,000 invested in Ethereum at the 2018 closing price of $133.37 would have fetched 7.5 Ethereum. The same Ethereum would be worth around $14,347 today, with a return of 1,435%.

Read Next: What Is Ethereum

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.