$100 In Ethereum (ETH) 5 Years Ago turn into -Here’s How Much

2 min

This well-known cryptocurrency still has better days ahead of it, even though future profits are unlikely to resemble the past. Unsurprisingly, Wall Street and the media focus several attention on Bitcoin (BTC) (CRYPTO: BTC), the most well known digital currency. Nonetheless, in terms of financial gains, the global peer-to-peer currency has  has decreased behind its more modest rival in recent years.

How much your Ethereum (ETH) worth become after 5 year

A $100 financing in  () 5 years ago on January 10, 2017, would now be worth a staggering $11,810 today. Despite the fact that the price is down 22 percent this year (as of November 24). From ether’s announced date in to March 2017, the token’s price remained relatively steady in the middle of $0.70 and $21. It wasn’t until May of that year when the 2017 cryptocurrency market began to pick up, that the price of ETH surpassed $100 for the 1st time.

After that, ether skyrocketed to a high of $414 in 2017 before falling back. Bullish momentum did not regain strength for another 5 months. By that point, the entire cryptocurrency market was experiencing substantial pressure, causing almost every cryptocurrency crypto token to reach new highs. By January 2018, the price of ETH had reached a high of $1,418 before plummeting The second-most valuable digital currency in the world as of this writing has a market capitalization of $147.2 billion. As of the coinmarketcap today’s Ethereum (ETH) price is 1,186.23 USD .

Ethereum (Chart)

Ethereum (ETH) can be seen as a global platform, whereas Bitcoin (BTC) is just a decentralized payment network. This implies that a transaction involving a variety of different functions can be carried out by two unrelated parties without the use of pricy middlemen. Ethereum (ETH) uses a programmable blockchain tech to create smart contracts and this is what sets it apart from other cryptocurrencies.

Ethereum (ETH) work on PoW consensus algorithm

At present, Ethereum uses a proof-of-work (PoW) consensus algorithm. To earn the right to validate brand-new transactions on the blockchain tech, miners needs expend enormous computational resources on the resolution of challenging math puzzles. Nonetheless, the same difficulties that have beset Bitcoin, namely those related to speed and scalability, have likewise hurt Ethereum.

The emergence of decentralised applications (dApps) like decentralised (DeFi) and non-fungible crypto  has resulted from Ethereum’s smart-contract functionality (NFTs). As of today, Ethereum (ETH) has 2,960 different dApps on its platform, covering a wide range of categories such as gaming, social media, identity, and insurance.

It’s no surprise that top crypto altcoin has risen to the top of the of cryptocurrency use cases. This is due to its extensive network, which is essential for the advancement of any blockchain tech project. In December 2021, Ethereum (ETH) had over 4,000 active developers working on it, which is far greater than any other digital currency, a situation that clearly bodes well for Ethereum’s future.

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