How much would an investor profit if he poured $ 1,000 to buy Ethereum virtual currency earlier this year?

Ethereum is taking waves in the virtual money market because of its rapid growth …

Illustrative image – Photo: Reuters. Ethereum is “occupying waves” in the virtual money market because of its rapid growth. In the past 1 week, the second largest virtual currency in the world has increased by nearly 20%, surpassing USD 4,000 for the first time in the session on May 10. If counted in the past 1 month, Ethereum price has nearly doubled. At nearly 8:00 am on May 11 in Vietnam time, the Ethereum price according to the data on Coinmarketcap.com was $ 3,933, far exceeding the level of $ 176 a year ago. Another virtual currency that has also seen a dramatic rise recently is Dogecoin. However, there is a big difference in the uptrend of Dogecoin and Ethereum that CNBC pointed out. That is, Dogecoin price is pushed up mainly by the status lines (tweets) on the social network Twitter and the “inundation” of the crowd of individual investors on the Reddit forum. Meanwhile, Ethereum has the backing of institutional investors and is heavily chosen for multi-million USD NFT transactions. Ethereum is built on blockchain technology like Bitcoin, but Ethereum’s proponents do not view the virtual currency as a form of “digital gold” – a name attributed to Bitcoin. Instead, many investors, including billionaire Mark Cuban, consider Ethereum to be more applicable. One use of Ethereum is as infrastructure for the decentralized Internet, and people can develop applications on the Ethereum network. With a market cap of nearly $ 482 billion on May 10, Ethereum is now larger than the total capitalization of beverage company Coca-Cola, social network Snap, and Ford Motor, combined. In the world of virtual money, Ethereum is second only to Bitcoin – the virtual currency with a market cap of $ 1.1 trillion. If you bought Ethereum earlier this year, you can now pocket a pretty good return. Ethereum virtual currency price movements in the past 1 year. Unit: USD / Ethereum – Source: Trading View. According to CNBC estimates, with $ 1,000 buying Ethereum on Jan. 1 at $ 731, investors had the equivalent of $ 5,711 on May 10 when Ethereum’s price peaked at $ 4,174. The return on this investment is 471%. This rate of return is higher than the return on Bitcoin investment. If you spend $ 1,000 to buy Bitcoin at the beginning of the year, the investor currently has $ 1,948, equivalent to a near 95% return. However, this does not mean that Ethereum will certainly continue to bring big profits for its investors in the future. Experts always recommend that investors should not pour into virtual money an amount greater than the amount of damage they can accept.