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The cryptocurrency market is still down this week and many of the most significant coins haven’t been able to escape the carnage of a potential crypto winter.
Here’s a look at how far Ethereum (CRYPTO: ETH) is from its all-time high.
What Happened: The stablecoin TerraUSD (CRYPTO: UST) and the cryptocurrency linked to it, Terra (CRYPTO: LUNA), are among the biggest to decline in the week and have created some level of panic in the cryptocurrency market.
Ethereum, the world’s second most valuable cryptocurrency by market cap, has seen its value fall 23% over the last seven days. The coin is hitting levels that haven’t been seen since July 2021.
While the cryptocurrency could continue to fall, many analysts have pointed to a higher valuation for Ethereum in the future with its strong use cases and utilities attached to the non-fungible token market.
Here’s a look at how buying the dip in Ethereum could turn out if the coin can rise again.
Related Link: Here's How Much $100 Invested In Bitcoin Today Would Be Worth If It Hits All-Time Highs Again
Investing $100 in Ethereum: The price of Ethereum is $2,044.06 at the time of writing, with a gain of 6% over the past 24 hours. Ethereum has traded between $1,707.60 and $4,891.70 over the past 52-weeks, hitting an all-time high in November 2021.
A $100 investment in Ethereum today could purchase 0.0489 ETH. The $100 investment would turn into $239.20 if the coin returns to $4,891.70 with a return of 139%.
If Ethereum were to hit a target price of $23,000 by 2030 as some experts predict, the $100 investment would be worth $1,124.70. This would represent a return of 1,024%.
Photo by Kanchanara on Unsplash
