Introduction
Ethereum is one of the most popular discrete open-end software in the crypto world. By harnessing the power of blockchain technology, Ethereum provides a platform for numerous applications such as transactions, data storage, and even running third-party applications on a discrete network.
At the heart of Ethereum’s network is its native crypto coin, Ether or often referred to by its abbreviation, ETH. Crypto coins are digital currencies that hold a market value, meaning they can be used for all sorts of financial transactions, or even held over a long term to benefit from an appreciation of value.
Due to the overwhelming popularity of Ethereum, Ether has risen up the ranks to be one of the most popular crypto coins as well. Amongst the likes of Bitcoin, Solana, and Binance Coin, Ether has one of the highest market values in the crypto market.
With the rise of digital currencies and the emergence of the crypto market, many are sure to want to dip their feet into its waters and have a go at benefiting from these coins. Many looking into the crypto scene have one thought in their mind, making huge profits. With that being said, how much is Ether worth right now, and is it a good investment?
What Is Ethereum's Market Value?
How Much Was It Worth In 2016?
Ether was publicly listed in 2016, and its average price was around seven US dollars. This made it possible to own around 1.4 Ether with just 10 USD. If you ask me, that is a pretty massive difference when compared to recent years.
How Much Is It Worth Today?
Cryptocurrencies are some of the most volatile assets to own in today’s market, with constant fluctuation. Even so, over the past decade, crypto coins have seen a rising trend in terms of value, some more so than others.
As of the second half of the month of October 2022, the price of Ether has roughly sat around the 1.2k USD to 1.3k USD mark with day-to-day fluctuations. This means that Ether’s value is roughly around 170 times what it was worth six years ago.
How Much Would You Have Now If You Bought $10 Worth Of Ether In 2016?
To put things into perspective, let’s say you managed to get your hands on around 10 USD worth of Ether when it first came out. This would have gotten you around 1.4 ETH. Within the span of 6 years till today, Ether has appreciated by roughly 170000%, which would net you around 1.7k USD if you were to cash out right now.
If you were one of the lucky ones that managed to see the opportunity that Ether held and invested a sizable sum of money into it, chances are, you could be already ready for retirement.
Is It Worth Investing In Ether Right Now?
Like most of the large players in the crypto market right now, compared to years ago, their value can be said to have skyrocketed. To those who have made an investment in the past, it is safe to say that it surely was an investment worth its risk.
However, what of today? Would Ether be a good investment right now? Despite having almost 170 times its original value right now, if you take a look at Ether’s price chart, it hasn’t been doing as well, a trend seen amongst most crypto coins right now.
Ether’s peak market value sat at around 4.5k USD in November 2021, having enjoyed a steady appreciation of its value since mid-2021. Ether’s market value right now is more than half what it was a year ago due to relative instability in the crypto market. However, like most crypto coins, drops similar to these have occurred before, and prices do tend to recover after some time.
If your goal was to make money quickly from an investment into Ether, chances are, it wouldn’t be a good investment due to the current state of the market. However, with prices being relatively low right now, yielding positive returns, in the long run, is definitely a possibility.
However, aside from buying the dip right now, there are other reasons why Ether could be a massive investment for the future right now.
Ethereum — An Software Platform Built On Blockchain Technology
As mentioned above, Ether is the native coin of a blockchain technology-based software platform known as Ethereum. It is one of the largest players in the crypto market due to the capabilities that it offers users for harnessing the power of blockchain technology.
Ethereum utilises Ether as a resource in order for users to make use of its services, such as transactions and running applications on their network. This means that the value of Ether is directly tied to how well Ethereum is performing.
This makes Ether a potential investment for the future as the capabilities of blockchain technology are endless. In fact, Ethereum is said to be a hub of innovation in the crypto world. This gives rise to a potential for Ether’s value to rise in the future given how well Ethereum is said to perform in the future.
This is a potential long-term investment that can yield big earnings. Blockchain technology is still in its early stages and has a lot of potential for future applications. Even now, it is regarded as one of the key innovations of the 21st century.
Conclusion
When it comes to cryptocurrencies, investments are a high-risk and high-reward process. They are more volatile when compared to traditional assets such as stocks, bonds, and property. Yet, this is what gives crypto its potential to go through periods of high appreciation in value, and this is when you can look to profit from making an early and decisive investment.
However, as with all other forms of investment, doing your research is the most important part of the process. Risks are always present but with ample knowledge, mitigating huge losses is something that can be achieved if you know what you are doing.
