Cryptocurrency Ethereum ETH was launched in 2015 and has become the second most valuable asset in the crypto sector over time. Here's a look at how an investment in Ethereum could turn you into a millionaire in the future, with the price trading higher over the last week.
What Happened: Ethereum co-founder Vitalik Buterin proposed the cryptocurrency with a white paper released in 2014. Buterin's goal was to add scripting to make it easier for application development and to set up binding contracts.
Ethereum launched on July 30, 2015. During its first calendar year, Ethereum traded between $0.42 and $1.39.
The addition of Ethereum to cryptocurrency exchanges helped lead to increased value and interest from investors. On Coinbase, Ethereum became the second cryptocurrency to be added to the platform, following Bitcoin.
Major events like the fork of Ethereum 2.0 and Ethereum Classic ETC/USD and the surge of interest in Ethereum based non-fungible tokens helped propel Ethereum further. A record sale of a Beeple NFT created interest in NFTs and Ethereum.
Ethereum hit an all-time high in November 2021, a time when many cryptocurrencies experiences their top levels.
The year 2022 brought several bankruptcies of cryptocurrency companies and sent the price of Ethereum lower. The year also brought on the Ethereum merge that took the cryptocurrency from being a proof-of-work to proof-of-stake.
Related Link: How To Buy Ethereum
Becoming an Ethereum Millionaire: With Ethereum trading well below its all-time high, here's a look at what an investor would need to do today to become a future millionaire based on the cryptocurrency.
If Ethereum returns to an all-time high of $4,891.70, a holder would need to have 204.43 ETH to be a millionaire.
Today, the 204.43 ETH can be purchased for $456,338.87. This represents the cost today to become a future millionaire if Ethereum can return to all-time highs.
There is no guarantee that Ethereum will go up in 2023 or in the future. Over the last seven days, Ethereum is up 12% and hitting new 52-week highs. The second largest cryptocurrency by market capitalization, Ethereum is up over 80% year-to-date in 2023.
Read Next: 5 Things That May Surprise You About Ethereum Creator Vitalik Buterin
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