Is Ethereum Still Safe And Easy Choice For Investors? Let’s find out!
Ethereum is an open-source, decentralized platform that underpins most cryptocurrency industries. Is Ethereum a wise investment? This is the issue we address today. We’ll discuss this cryptocurrency’s performance and provide information on highs and lows.
Ethereum’s performance since launch and until 2022
You should research the market performance of cryptocurrencies before thinking about buying any. Investors frequently use the finest crypto analysis tools to assess the general health and volatility of the markets.
Brief ETH price history
In July 2015, Ethereum was introduced at $0.75 per token. Within three months after the launch, the price of Ethereum reached $0.42, its all-time low. In January 2018, ETH temporarily surpassed $1,360 before declining and staying below $1,000 until January 2021. Before falling by over 60% to nearly $1,700 in July of the same year, the cryptocurrency had just set a new high of around $4,170 in May 2021. When tokens surpassed $4,890 in value in November 2021, this cryptocurrency had its most significant value.
This shows a growth of about 652,000% from Ethereum’s first introduction. This peak didn’t endure since cryptocurrencies are volatile by nature. The following month, Ethereum had decreased by around 8% to trim over $3,700. If you had invested in Ethereum at its launch, you would still have made a healthy 411,000% return. By the beginning of 2022, a $1,000 investment would result in a massive portfolio of ETH tokens valued at $4.1 million.
The current price
Investing in Ethereum between its 2015 introduction and the beginning of 2018 would have cost you somewhere between $0.75 and $1,360, as we’ve already mentioned. Since early 2021, Ethereum has not gone below $1,000, and it is still one of the most widely used cryptocurrencies among all types of cryptocurrency investors. It’s interesting to note that Ethereum’s infamously high transaction fee dropped by almost 50% around its all-time high of $4,890 in November 2021. In 2022, Ethereum’s volatility has increased more recently.
Beginning in 2022, the price of Ethereum was around $3,770. The cost of the cryptocurrency dropped steadily until about $2,400 at the end of January. Since July 2021, Ethereum has fallen below $1,000 to its lowest price. Ethereum’s volatility was stoked by indications that the Federal Reserve may continue raising rates to handle inflation. Government officials are interested in producing government-issued digital currency and more crypto laws. Due to these events, bitcoin prices have been similarly downward. As of the beginning of November 2022, the Ethereum price is trading around $1,200.
Highs and Lows
Since the cryptocurrency’s launch, we have tracked Ethereum’s performance and have started to determine if it is a wise investment.
See Ethereum’s highs and lows here for a recap:
- Launch of Ethereum in July 2015 – $0.75
- Ethereum reached a record low in October 2015 of $0.42.
- ETH increased to over $1,360 in January 2018, marking a more than 181,000% growth since its debut.
- Tokens climbed to about $4,170 in May 2021, up 990,000% from their all-time low.
- July 2021: Crashes to $1,700, a 60% drop in only two months.
- The asset reached an all-time high of $4,890 in November 2021, a rise of over 158% in just four months after updating the local minimum.
- Ethereum fell to $2,400 in January 2022, a 50% decline from its all-time high two months earlier.
Due to these historical peaks and troughs, you should now better grasp Ethereum’s volatility and its suitability as an investment. Naturally, most cryptocurrencies are speculative and unstable. Also, always use verified crypto exchanges when you decide to make money from crypto trading.
Is Ethereum’s utility still good?
Ethereum has a first-mover advantage in the smart contract field, which is considered to be so significant since many users will continue to use Ethereum as the standard option to deploy decentralized apps. It is simpler to spend ETH since its utility is substantially more significant than Bitcoin’s. Everything from NFTs and enterprise blockchain solutions to DeFi applications uses Ethereum’s technology. ETH, the native token of Ethereum, is the second most valued cryptocurrency in the market.
Below are some applications for Ethereum:
- By running a contract and asking the public for donations, developers may utilize Ethereum to fundraise for their projects.
- The Ethereum blockchain is the foundation for several of the top NFT games and collectibles.
- Ethereum switched to the less energy-intensive Proof of Stake (PoS) mechanism from Proof of Work (PoW).
- The network switch to PoS, also known as Serenity or Eth2, is to support more transactions and eliminate bottlenecks.
We have discussed cryptocurrencies today and attempted to provide an answer to the question, “Is Ethereum a Good Investment?” There are several advantages to including Ethereum in your portfolio, such as further upgrades that will boost the network’s scalability and bandwidth, making it well-positioned to withstand the test of time.