Ethereum has been on a tear over the last week, gaining more than 20% in the last seven days and hitting the $1,900 level for the first time in two months. Here’s a look at what happened and how much a small investment in the second largest cryptocurrency could be worth if all-time highs are hit once again.
What Happened: Ethereum ETH/USD is up 20% in the past week and trading at $1,899.68 at the time of writing. The cryptocurrency hit a high of $1,927.94 over the past 24 hours, hitting a new two-month high.
Ethereum has been one of the most popular cryptocurrencies over the past two years, with its connection to the non-fungible token market helping boost its use cases and investment opportunities.
After dropping to new lows in June, Ethereum has fought back and saw a surge over the past 24 hours after it completed its last remaining testnet before its planned merge. The merge and upgrade will take Ethereum from a proof-of-work to a proof-of-stake.
“This is the most significant test merge to date as it’s the very last testnet merge before mainnet and the longest running beacon chain testnet to date,” Ethereum core developer Preston Van Loon tweeted.
The merge is now planned for mid-September, which could act as a catalyst for the second-largest cryptocurrency.
Ethereum hit all-time highs back on November 16, 2021, of $4,891.70.
With the current price, the crypto has gained significantly from its one-year low of $896.11 hit in June. With the gains, Ethereum still remains down significantly from its all-time highs.
Here’s a look at what could happen with an investment if new highs are reached.
Related Link: How To Buy Ethereum
Investing $100 In Ethereum: A $100 investment in Ethereum today could buy 0.0526 ETH based on the current price.
If Ethereum returns to its all-time high of $4,891.70, the $100 investment would be worth $257.30, representing a return of 157%.
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.