As the first decentralized cryptocurrency, Bitcoin has deservedly been the face of the digital assets revolution. To the novice digital assets investor, cryptocurrency has become synonymous with Bitcoin and vice versa, and with good reason — its price has skyrocketed more than 7,500%, from roughly $600 to more than $48,300, over the last 5 years, as of Aug. 30, 2021. Ethereum, the second largest cryptocurrency by market cap, has become a household name, as well.
Though Bitcoin and Ethereum are the biggest names and most expensive assets in the cryptocurrency space, some of the lesser known and less expensive cryptocurrencies are offering a similar or even greater return on investment. For example, Cardano, which has become the third largest cryptocurrency by market-cap — currently over $90 Billion —and is trading at less than $3, as of August 30, 2021, has seen a 65% increase over the last 3 months. Solana, another cryptocurrency, has seen its price jump more than 200% over the last 3 months, as of August 30, 2021, which has helped push it into the top ten largest cryptocurrencies by market cap. Over that same time, Bitcoin has been up just greater than 31%.
With over 7,000 digital assets, the world of cryptocurrency is more than just the Bitcoin and Ethereum — and it’s not just direct coin investing that can generate positive returns. Read our white paper on the Digital assets industry to see the various opportunities to invest in the space.
Source: MV Index Solutions. Data as of 31 August 2021.
About the Author:
Steven Braid is a Data and Marketing Analyst at MV Index Solutions. He is responsible for supporting the data, marketing, research, and product services. Prior to working for MVIS, Steven worked as an equity research analyst for Dane Capital Management, a special situations hedge fund, where he focused on SPACs and other forms of special situation transactions. Prior to his time in Finance, he worked as a professional journalist, publishing for the New York Times, USA Today, and other national periodicals. Steven has a M.S. in Data Analytics & Applied Research from the Baruch College Zicklin School of Business, and a BA in International Political Economy from the University of Michigan.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.