In the last year, there have been unprecedented levels of volatility seen in the cryptocurrency market. The main talking point has been none other than Bitcoin, but during the same time period, there have been a few other crypto assets that appear to have outperformed the pioneer cryptocurrency. The Cardano (ADA) token is one of these cryptocurrencies. Since April of last year when a stimulus package of $1,200 was issued to citizens of the United States by the government, there has been growth of more than 5,000% in the value of this token. It was highlighted by some of the analysts that if someone had decided to use all of their stimulus payment for investing in the ADA token, then their investment would have been valued at a total of $45,000.
Considering that the investment would last for less than a year, it would have undoubtedly proven to be a profitable one. It has been more than a year since the COVID-19 pandemic began and disrupted the socio-economic order of the world. Around the same time period, the government had decided to send stimulus checks to citizens of the US, who had been earning less than $75,000 annually. In the past, there had been similar reports about using the stimulus worth $1,200 for making an investment in Bitcoin (BTC) and Ethereum (ETH).
Each of these investment options would certainly have provided some mouthwatering results. Considering the price of Bitcoin on February 14th, an investment in the leading cryptocurrency would have netted a return on investment (ROI) of about 620% to the investor. This means that they would have made profits worth $8,460. An investment in Ethereum would have been even more impressive, as the same amount of money invested in ETH would have given profits of about $13,500 during the same time period.
However, the latest data indicates that an investment in Bitcoin and Ethereum would have resulted in an ROI of $9,400 and $14,400, respectively. But, it is also a fact that neither of these cryptocurrencies can be compared to the returns that people could have enjoyed if they had chosen to invest in Cardano instead. Likewise, had people chosen to make an investment in stocks like AMD and Tesla would also have benefitted. The same was applicable through an investment in the Nasdaq Composite and the S&P 500 indexes, but the returns wouldn’t be on the same level as that of Ethereum and Cardano.
It is important to note that investors would have made losses had they chosen to invest in gold, which is known as a hedge against stocks. In the last 11 months, there has been a slight decline in the commodity’s price. The level of gains made by these investment vehicles indicates that an investment in Cardano (ADA) would have generated more returns than any other. Considering the current market price, returns from an investment in GME would have been around the $44,000 mark or above, as its price had skyrocketed because of the interest of hedge funds.