Many well-known cryptocurrencies have had spectacular runs in 2021. One title that has elevated greater than 400% in 2021 is Ethereum (CRYPTO: ETH). A part of the rise within the rise in valuation may very well be credited to the rise of non-fungible tokens.
What Occurred: Larva Labs launched CryptoPunks on June 23, 2017. The ten,000 NFT collection featured 24×24 pixel artwork pictures constructed on the Ethereum blockchain.
Investing $1,000: On the time of the CryptoPunks launch, Ethereum traded beneath $350. On June 23, 2017, Ethereum hit a excessive of $348.01.
When you invested 1,000 in Ethereum on this historic day, you might have purchased 2.8735 ETH. That funding from 2017 can be value $11,296.41 in the present day, based mostly on in the present day’s Ethereum value of $3,931.24.
That will mark a return of over 992% in 4 years and two months.
An funding in any of those belongings on the time would have produced sturdy returns.