Many well-known cryptocurrencies have had impressive runs in 2021. One name that has increased more than 400% in 2021 is Ethereum (CRYPTO: ETH). Part of the increase in the rise in valuation could be credited to the rise of non-fungible tokens.
What Happened: Larva Labs launched CryptoPunks on June 23, 2017. The 10,000 NFT series featured 24×24 pixel art images built on the Ethereum blockchain.
Investing $1,000: At the time of the CryptoPunks launch, Ethereum traded under $350. On June 23, 2017, Ethereum hit a high of $348.01.
If you invested 1,000 in Ethereum on this historic day, you could have bought 2.8735 ETH. That investment from 2017 would be worth $11,296.41 today, based on today’s Ethereum price of $3,931.24.
That would mark a return of over 992% in four years and two months.
An investment in any of these assets at the time would have produced strong returns.