Wednesday, February 8

© Reuters. If You Invested $1,000 In Ethereum When CryptoPunks Were Released, Here’s How Much You’d Have Now

Benzinga – Many well-known cryptocurrencies had impressive runs in 2021. (CRYPTO: ETH) was a big gainer in 2021 going from $737.71 to $3,682.63.

Here’s a look at how Ethereum has done since the launch of one of the biggest and most well-known NFT collections of all time.

What Happened: Larva Labs launched CryptoPunks on June 23, 2017. The collection of 10,000 24×24 pixel art images built on the Ethereum blockchain is now one of the biggest non-fungible token collections.

The project was not an early success but has quickly become the standard among NFT collections attracting investments from celebrities and investors alike.

While the price of Ethereum is down 68% in 2022, investing in the cryptocurrency based on the historical NFT launch would still be a profitable trade.

Related Link: Best FTX Alternatives: How To Keep Your Crypto Safe

Investing $1,000 in ETH: At the time of the CryptoPunks launch, Ethereum hit a high of $348.01.

A $1,000 investment in Ethereum on this historic day could have bought 2.8735 ETH. That investment from 2017 would be worth $3,498.72 today based on a price of $1,217.58 at the time of writing.

The investment would be up 250% in five years and five months. This represents a hypothetical annual return of 46.2% over the time period.

At the time of writing, CryptoPunks have a floor price of 65.9 ETH, or around $80,114.

Read Next: Biggest NFT News Ever? Bored Ape Yacht Club Parent Yuga Labs Acquires CryptoPunks And Larva Labs Rights

CLICK HERE to sign up for Benzinga’s Future of Crypto conference on Dec. 7 in New York City. This is the BIGGEST day of the year for crypto enthusiasts, entrepreneurs, investors and networkers to discover the #1 crypto ideas you can use today — directly from hundreds of industry insiders and dozens of project creators.

Photo: Shutterstock

© 2022 Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga


Leave A Reply