Cryptocurrencies are crashing in value with fear of higher inflation and holders liquidating positions. Here’s a look at how much a small investment in a leading cryptocurrency could be worth if all-time highs are hit once again.
What Happened: Ethereum ETH/USD is among the cryptocurrencies seeing its value fall double digits Monday. The price of Ethereum has dropped to levels that are nearing 52-week lows.
Ethereum is trading at $1,241.35 at the time of writing, down 13% in the last 24 hours.
Over the last 52-weeks, Ethereum has traded between $1,186.54 and $4,891.70.
Ethereum, which is the second most valuable cryptocurrency behind only Bitcoin BTC/USD, hit all-time highs back on November 16, 2021.
Related Link: How To Buy Ethereum
Investing $100 In Ethereum: A $100 investment in Ethereum today could buy .08060 ETH based on the current price.
If Ethereum returns to its all-time high of $4,891.70, the $100 investment would be worth $394.27, representing a return of 294%.
There is no guarantee that cryptocurrencies will return to levels seen last November. The article is an exercise to demonstrate how a small investment could add up over time if cryptocurrencies can bounce back.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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