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Ethereum

A $1,000 Investment in Ethereum Five Years Ago Would Be Worth $195,000 Today

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Ethereum - Investors King

The increasing number of investors continues choosing digital coins as an investment asset. Some of them invested in cryptos much earlier and watched their investments grow over time, despite the turbulences the crypto space witnessed throughout the years. As the world’s second-largest crypto coin by market cap, Ethereum proved an excellent investment choice with an impressive five-year return rate.

According to data presented by BlockArabia, a $1,000 investment in Ethereum five years ago would be worth nearly $195,000 today, bringing a whopping 19,400% gain.

Ethereum’s Price Soared 195 Times Since July 2016

As the world’s second-largest cryptocurrency after Bitcoin, Ethereum was released on July 30, 2015, and priced at $0.75. By the end of July next year, its price surged by 1,500%, already making him a successful investment.

Assuming an investor bought $1,000 worth of ETH on July 20, 2016, they would have picked up 83 coins priced at around $12. Three years later, in January 2018, Ethereum’s price soared to $1,396, turning that $1,000 investment into $115,800.

After a deep price fall in the following months and throughout 2019, ETH price recovered in 2020, as the entire crypto market boomed amid the COVID-19 crisis. Between January and December 2020, ETH price surged by 411%, rising from $144 to $737.

However, after an outstanding performance throughout the last year, Ethereum’s price exploded in 2021. Between January and March, it soared by nearly 150% to over $1,800 and continued rising. On May 12, it hit an all-time high of $4,297, turning that $1,000 investment into $356,650.

Although ETH’s price dropped significantly over the last two months, reaching $2,347 this week, that is still 195 more than its price from July 2016.

Ethereum Market Cap Surged by 233% YTD, 7x Bigger Increase than Bitcoin

Since the start of the cryptocurrency phenomenon, Ethereum and Bitcoin have been the most digital coins in the crypto space. However, unlike Bitcoin, Ethereum’s market cap soared in 2021, despite the recent crypto price crash.

After an outstanding performance throughout the last year, Ethereum’s market cap surged by more than 400% in the five months of 2021, rising from around $84bn in January to $442bn in May.

After the crypto price crash, Ethereum’s market cap almost halved in just three weeks, falling to $222bn in the third week of May.

The CoinMarket cap data this figure rose to $274.5bn this week. Although significantly lower than an all-time high from May, this still represents an impressive 233% increase YTD, which is seven times more the growth rate of Bitcoin.

Statistics also show ETH was the third most-traded crypto in the last 30 days, with a monthly trading volume of $517.8bn.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Ethereum

ETH to NGN: How Nigerian Crypto Traders Can Convert Ethereum to Cash

Learn how to convert your ETH to NGN seamlessly, speedily, and profitably
using the best method in Nigeria.

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Ethereum is a big player in the Nigerian crypto market, and rightfully so. With a market cap only surpassed by Bitcoin, it’s a no-brainer that most crypto enthusiasts have this coin in their portfolio.

But it doesn’t end there—after profitably trading Ethereum, there’s the million-dollar question: How do they seamlessly convert it to Naira? Given the complicated crypto market, this question is valid.

This guide is the answer to this question as it explores the smoothest method for Nigerian (and Ghanaian) crypto traders to sell their ETH for cash.

Why OTC is the Best Choice To Convert Ethereum to Cash

Traditional exchanges and P2P trading have loads of shortcomings, including, complex trading, risk of fraudulent traders, and so much more. This puts over-the-counter methods at an advantage, especially for traders who value straightforward, clear, and profitable means to sell their Ethereum for Naira (and Cedis). To support this point, here are the reasons:

  • Simplicity:OTC platforms favor the simpler way of doing crypto trading over the more complicated means of traditional exchanges or the informal and risky means of P2P trading.
  • Security:Most OTC trading platforms are built on state-of-the-art security frameworks which offer way better customer protection than P2P trading.
  • Competitive Rates:OTC platforms follow the market trends and offer fees according to the performance of the market. So, you’re bound to find fees that are favorable to you and get premium value for your ETH profits.

Introducing Breet: Your One-Stop Shop for Selling ETH for Naira

Breet stands out as the leading OTC platform for Nigerian crypto traders. Here’s what makes Breet the perfect choice:

  • Effortless Selling:In a few clicks you can effortlessly sell your ETH for cash with a few clicks. Following a near-automated process, say goodbye to complex processes with Bret doing all the heavy lifting behind the scenes.
  • Enhanced Security:Confidently sell your ETH, knowing that you have foolproof security to keep out unauthorized access with methods like two-factor authentication, biometrics, and transaction PINs.
  • Fast and Direct: Breet is laser-focused on crypto-to-cash and crypto-to-crypto transactions. As a result, it is a non-custodial exchange, meaning that it doesn’t store your funds. This results in extremely fast transactions and direct deposits in your bank account.

Selling ETH on Breet: A Step-by-Step Guide

Getting started with Breet is easy! Here’s how to sell your ETH in a few simple steps:

  1. Download the App:Breet is available on Google Play Store, iOS App Store, and a web app to directly register.
  2. Sign Up and Verify:Follow the simple prompts to register and get started. Then, verify your account through KYC by submitting the required information.
  3. Sell Your ETH:Navigate to “Crypto-to-Cash” and select “Ethereum.” You’ll be presented with your unique wallet address, which was generated at sign-up. Copy it or scan the QR code to send your ETH.
  4. Relax and Wait:Breet automatically detects the incoming ETH and displays the conversion amount in NGN. Sit back and let Breet handle the rest.
  5. Receive Your Funds:Once the transaction is confirmed, your NGN balance will be updated. Withdraw your funds directly to your bank account.

Bonus Tip: Next time, for a more seamless experience, enable “Automatic Settlement” and have your funds automatically deposited into your bank account.

Conclusion

Selling your ETH for Naira doesn’t have to be a hassle. With Breet, Nigerian crypto traders can enjoy a smooth, secure, and profitable experience when converting their ETH to NGN. So ditch the complexities and embrace the ease of Breet!

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Ethereum

Dormant Ether Holder Awakens, Transfers Nearly $90 Million to Kraken Exchange

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Ethereum- Investorsking

A significant Ethereum (ETH) holder, dormant for five years, recently transferred almost $90 million worth of the token to the crypto exchange Kraken.

The on-chain analytics tool Lookonchain reported this development in the early hours of Tuesday, shedding light on the activities of this long-inactive “whale.”

A whale refers to an entity holding a substantial amount of any cryptocurrency.

Blockchain data reveals that during the Asian morning hours, the whale deposited 39,260 ether into Kraken. In 2017, this same address received 47,260 ether estimated at over $11 million at the time.

 

Upon analyzing the address, it was discovered that previous transactions were not linked to the cold storage of any exchange.

However, there is a possibility of a connection to trading firm Cumberland as indicated by labeling on the data tool Arkham.

The significance of such a large holder moving assets to an exchange lies in the potential repercussions for the market.

When whales transfer funds to exchanges, it often raises speculation about selling pressure as the holder might either sell the tokens for stablecoins or convert them into other cryptocurrencies.

This event adds an element of intrigue to the cryptocurrency market as observers keenly watch for any subsequent market movements.

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Ethereum

RxR Analysis Reveals: Ether’s True Worth 27% Higher than Market Price

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Ethereum- Investorsking

RxR, a research-driven partnership between Republic Crypto and Re7 Capital, has revealed that Ether (ETH), the native token of the Ethereum blockchain, is currently trading at a 27% discount to its actual fair value.

This revelation comes as a result of RxR’s innovative approach to evaluating the worth of cryptocurrencies. Instead of relying solely on traditional metrics, RxR’s methodology incorporates a blended version of the Metcalfe law that takes into account both the active user base on the continuously expanding Ethereum scaling networks and the users on the Ethereum mainnet.

Ether, as a fundamental component of the Ethereum ecosystem, facilitates a wide range of activities, from simple transactions to participating in network security through staking, earning interest, and even storing non-fungible tokens. As such, the value of Ether has long been intertwined with Ethereum’s network usage.

Lewis Harland, an analyst at RxR, explained the significance of this approach, stating, “Ethereum’s network valuation exhibits a closer alignment with the updated Metcalfe law index when the active user base of Ethereum’s scaling networks is included in the model, in contrast to when it is omitted.”

Harland continued, “The updated model, which factors in these networks, places ETH’s valuation at $275 billion, indicating that the current market capitalization is trading at a substantial 27% discount.”

Ether’s market capitalization consistently tracks the blended Metcalfe law model more accurately than the traditional model, which fails to consider the growing activity on layer 2 networks or offchain solutions built atop the Ethereum mainnet.

In essence, this analysis challenges the perception that Ether might be overvalued, as suggested by the traditional Metcalfe law Model.

The emergence of Layer 2 technology has undoubtedly become one of the most dynamic and exciting developments in the crypto market. Key protocols, such as Coinbase’s BASE, Arbitrum, and Optimism, have found their unique niches within this landscape.

According to data from L2Beat, the total value locked in layer 2 protocols has surged more than threefold in just two years, reaching an impressive milestone of over $9 billion.

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