Ethereum Cryptocurrency Surged Fivefold in 2021

Ethereum (ETH) closed at US$4,818.87 per coin on Tuesday, November 9, 2021. This price represents a 4.63% increase from the previous day's closing price of US$4,605.63 per coin.

Compared to its position on December 31, 2020, the price of this cryptocurrency has surged more than fivefold, or 545.91% year-to-date (YTD). This means that if an investor had invested in Ethereum since the end of last year, they would have achieved a profit of over 500% this year.

The profits from trading this cryptocurrency are substantial and enticing when compared to conventional investment portfolios, such as the stock market, bonds, commodities, currencies, or foreign exchange. However, it is important to remember that the movement of cryptocurrencies like Ethereum or Bitcoin is highly volatile and therefore quite risky.

The COVID-19 pandemic, which has swept the globe since 2020, has actually become a catalyst for the rise in cryptocurrency prices. At a time of sluggish economic performance impacting investment portfolio performance, fund owners have looked to cryptocurrencies as a profitable investment alternative.

The continuously soaring price has also propelled Ethereum's market capitalization, reaching US$551.93 billion currently. This value is equivalent to Rp 7.83 quadrillion, or almost three times Indonesia's 2021 State Budget (APBN) of Rp 2.74 quadrillion.