Cryptocurrency market investors have made a lot of money in a short time, as well as those who have lost all their money. In fact, some investors who won the title of crypto millionaire for a period of time lost these titles. Well, if you invested $1,000 in Ethereum Classic (ETC), Dogecoin (DOGE), and Ripple (XRP) in March 2020, how much money would you have now?
The process of cryptocurrencies entering the focus of investors
Investors who have invested in major US indices have enjoyed valuable returns since March 2020. In fact, the SPDR S&P 500 ETF, Invesco QQQ Trust Series 1 and SPDR Dow Jones Industrial Average ETF Trust have returned 60.82%, 61.40% and 54.17%, respectively, since the US market bottom in 2020.
The shine of crypto is connected with the fact that central banks open the money taps to the full during the pandemic period. The year 2020 was the year that Covid-19 was on the agenda of the world. In order to overcome the economic bottleneck in this period, the Fed initially went for fiscal expansion. In an environment of zero or even sub-zero interest rates, cryptocurrencies entered a long-term bull market.
Koindeks.com As you follow, cryptocurrencies entered the agenda of investors mostly in 2021. As it became more talked about, many of the cryptocurrencies gained significant value in 2021. The recognized chest coin Dogecoin (DOGE) was one of the top-growing cryptocurrencies in 2021. Ripple (XRP), on the other hand, had troubled days due to its lawsuit with the US Securities and Exchange Board (SEC). Indeed, the case in question is not resolved now.
How much was $1,000 DOGE, ETC and XRP worth?
Now, “If you invested $1,000 in Ethereum Classic, Dogecoin, and Ripple in March 2020, how much money would you have now?” Let’s get to the answer to our question.
- Ethereum Classic (ETC): $6,277.40
- Dogecoin (DOGE): $40,466.50
- Ripple (XRP): $3,923.10
As a result of investments of $ 1,000, the most recognized meme-coin, Dogecoin (DOGE), has provided the highest return. Tesla CEO Elon Musk’s beloved dog performed poorly in 2022. However, it still appears to be one of the most profitable investments from a long view.
Dogecoin is followed by Ethereum Classic (ETC). Its return is rather modest compared to DOGE. Ethereum Classic is a hard fork of Ethereum (ETH), released in July 2016. That is, a smart contract network capable of hosting and supporting decentralized applications (DApps).
The least profitable among them is Ripple (XRP), which is on the agenda with its lawsuit with the SEC. However, it does not go unnoticed that crypto investments are more successful when compared to index returns.