Ethereum, the world’s second-largest cryptocurrency, is on a quiet tear these days, regularly hitting new record highs, but doing so without the frenzy of Bitcoin or Dogecoin.
The digital currency hit an all-time high of $2,800 Thursday morning, jumping 273% since the beginning of the year. Compare that to an 86% increase in Bitcoin’s price. (Dogecoin is up 6,388%, but trades for less than 45 cents, making it, arguably, more accessible to small investors.)
The latest surge comes after reports that the European Investment Bank plans to issue its first-ever digital bond sale on the Ethereum blockchain network. The sale will be led by [hotlink]Goldman Sachs[/hotlink], Banco Santander, and [hotlink]Societe Generale[/hotlink], Bloomberg reported.
At the same time, the supply of Ethereum has been dropping as demand increases, driving prices higher. And businesses including Mastercard, UBS, and JPMorgan have been investing in startups that revolve around Ethereum.
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Like any cryptocurrency, though, there’s a risk of volatility. If you’d bought Ethereum the afternoon of April 22 and sold three days later, you’d have lost over $500 per token. But if you took a chance on Ethereum and were in it for the long haul, you’d have reason to celebrate. Here’s a look at what a $1,000 investment in Ethereum would be worth as of mid-morning Thursday, when its value, per CoinDesk, is $2,771.48.
Aug. 11, 2015: Ethereum in its early days cost about the same as Dogecoin does today, just under 67 cents each. That $1,000 investment today would be worth more than $4.1 million.
June 12, 2017: After a slow and steady climb, Ethereum saw its first big spike in value in the spring of 2017. By mid-June it was at $343.42. A $1,000 investment at that time would today net $8,070.
Jan. 9, 2018: The first big cryptocurrency rush saw Ethereum hit a high of $1,405.21. Had you bought at that peak, your investment would today be worth $1,972.
April 5, 2018: Remember that volatility we mentioned? Just three months after hitting that high, the price had dropped to $379.75. That same investment would have a value of $7,298.
Dec. 14, 2018: Things didn’t get much better as 2018 continued. By the end of the year, Ethereum’s value had dropped to $83.37. A $1,000 investment then would be worth $33,243 today.
July 3, 2019: The market for Ethereum improved in the following year, but it was slow and steady growth to $301.40—and no investor could have forecast what was to come. Your $1,000 would be worth $9,195 today.
March 12, 2020: The day after the WHO declared a global pandemic, Ethereum was trading at a modest $127.29, less than half its highs of earlier in the year. That $1,000 would today be worth $21,773.
Jan. 1, 2021: Ethereum had already started its impressive and rapid climb at the start of the year and was hovering at $730.04 on New Year’s Day. Your investment at that time would be worth $3,796 now.
March 29, 2021: What a difference a month makes. Ethereum sat at $1,830.61 a month ago. You’d have made $514 profit on your $1,000 investment at that time.
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