Ethereum is over $4,000—here’s how much money you’d have if you invested $1,000 at the beginning of 2021

Ethereum is over $4,000—here’s how much money you’d have if you invested $1,000 at the beginning of 2021

Just a week after dogecoin's massive rally, during which the coin surpassed the 70-cent mark for the first time in the lead-up to Elon Musk's hosting appearance on " ," ethereum is taking its turn in the spotlight. The coin has been on a in recent days, nearly doubling in value over the past month. The world's second-biggest cryptocurrency by market cap now costs more than $4,000 per coin, a far cry from the $176 it was commanding a year ago. Unlike dogecoin, whose rise has been fueled by tweets and Reddit threads, ethereum has support from institutional investors and has been the cryptocurrency of choice for . It is built on blockchain technology just like bitcoin, but instead of being viewed by its proponents as a store of value akin to gold, it is . That's because one of its uses is as , and people can build apps on the Ethereum network. With a of $481.8 billion — bigger than , . and combined — ethereum trails only bitcoin's $1.1 trillion market cap in the crypto world. An investment in ethereum at the beginning of the year would have seen strong growth over the ensuing months. A $1,000