Bitcoin, Ethereum, Cardano, Sandbox, Axie Infinity, Dogecoin, and HUH Token, there is such a vast number of cryptocurrencies out there that it can be incredibly difficult to understand their function let alone their statistical prowess. When evaluating cryptocurrency, sometimes you can gain a helpful insight by simply looking at a snapshot in time.
Bitcoin has recently met a record high this month and only seems to be climbing. This isn’t the only coin that is showing impressive breakthroughs, however.
Ethereum’s coin ether reached its highest point yet at $4,831.58 on the 9th of November. One year ago today, on the 10th of November, if you had invested $1000, you would now have about $10,744. All information has been sourced from Coinbase.
This charge can be accounted to the Ethereum network’s recent announcement about Altair, a step towards the new and improved Ethereum 2.0. The aim is to make the Ethereum scale in a more consistent way and to make it more sustainable. These changes and upcoming upgrades are what ETH holders are investing in.
Here are some other examples of cryptocurrencies that made a good amount of profit, the first two peaked in early this year and the numbers below will represent the coin being sold at those high points. It’s important to remember that when it comes to crypto the past performance doesn’t necessarily mean any future return, the world of decentralised finance is becoming more prevalent and perhaps more stable, but overall, it’s still an incredibly volatile environment.
A snapshot of time
Cardano is currently one of the largest blockchains that are utilising an energy-efficient, proof-of-stake consensus mechanism. Ethereum is also attempting to implement this but the transition will be gradual. Cardano is a science lead and peer-reviewed powerhouse, their academic strength is what they take pride in, and they want others to put faith in their blockchain also.
Last year if you placed $1000 dollars in this cryptocurrency you would be sitting on about $28,000 if you sold in early March.
If you compare this to Dogecoin, the meme coin beloved by the Technoking of Tesla, Elon Musk; then $1000 dollars a year ago from this day sold in early May would provide around $252,600. A good example of the fickle nature of cryptocurrency, instead of peer-reviewed scientific technology, a dog meme that hasn’t got the most utility performed ten times better.
These two cryptocurrencies peaked in March this year, some more current and present coins are reaching all-time highs right now.
Polkadot and its DOT coin are attempting to facilitate across many different assets in the crypto world. They are using an open-source sharding multichain protocol to allow an impressive range of blockchains to communicate with each other. This kind of technology is what will help stabilise the future of cryptocurrency.
If you invested $1000 a year ago today in this interoperable potential and sold today, you would be looking at about a $12,000 return. It’s not the highest on the list but still very substantial at ten times the payback.
The next contender is Sandbox, this platform is unique because it brings gaming to the world of blockchain technology. This massive market has a lot of potential for investment. The Sandbox has created a metaverse where players can create and sell plots of land as Non-Fungible Tokens (NFT).
If you had invested your $1000 in this lucrative concept a year ago you would be looking at near $77,500 a world-changing sum for some.
Following the same vein, tapping into the NFT gaming market with great success is Axie Infinity. This NFT trading platform allows you to breed, battle and level up cute round creatures called Axie’s. If you manage to find rare parts and types, these critters can be traded on the market for a pretty penny.
$1000 in this concept a year ago if sold now would provide about $318,000. One of the most dramatic and unexpected profits on this list. It would seem that the NFT and gaming niche is an incredible opportunity for investors in the coming year.
A new and potentially just as lucrative cryptocurrency is HUH token. This token has rumoured promises for filling the NFT niche whilst also riding on the power of memetic hype. Its unique smart contract concept is a referral system.
This system works by giving new holders of HUH Token a code that they can then pass onto someone new. Once the new investor uses this code, they receive a discount in tax on their purchase of HUH tokens. Once they make the purchase, 10% of it is returned to the code giver in BNB. This new wallet holder then receives their own referral code that they can pass on.
As you can see, there is some very clear potential here for exponential growth. HUH Token is currently towards the end of its presale and is set to release on the 6th of December. This could be $1000 well placed. If you invest now you can get 25% more tokens. This article is not intended as financial advice in any way and you should always research your investments thoroughly.
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