Cryptocurrency (Mar 09, 2021 09:31AM ET)
How Much ETH Can the $1,400 Stimulus Package Buy Today?
- Experts predict retail investors plan to invest at least half their stimulus checks.
- Since its listing, Ethereum has provided over 4,000% return, making it a good investment option.
The US congress is putting final touches to the third COVID-19 relief package. Meaning, US citizens could get up to $1,400 per person by the end of the week.
Experts are predicting that retail investors plan to invest at least half their checks. With the pandemic having no end in sight, crypto investment may be at an all-time high. However, with so many investment options, what would provide a good rate of return?
According to CoinGecko, Ethereum (ETH) currently provides a rate of return of about 4,408.8%. The second-largest crypto has gained unprecedented attention from institutional investors. Greystone recently relaunched its Ethereum Trust and bought over 50,000 ETH in 24 hours. More recently, Chinese beauty brand Meitu added 15,000 ETH to its reserves.
The truth is, it doesn’t take a fortune to invest in ETH. In fact, in November 2020, the $1,200 stimulus was worth about 7.64 ETH, while $600 was worth 0.98 ETH. Today, 7.64 ETH is worth about $13,971.88 at the ETH current price of $1,828.78. That is over a $12,000 profit in just 4 months.
Today, $1,400 will get one 0.82ETH, since ETH has risen 16.4% over the last week and 819.5$% in a year. Only time can tell just how much ETH will gain in the coming weeks and months.
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This article first published on coinquora.com