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This Is What Cryptocurrencies Were Worth This Time Last Year

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When it comes to investing in crypto, it’s easy to get caught up in the short-term. Wild fluctuations, sometimes over 10% of a coin’s value, like the fall in prices among altcoins at the start of September, often influence our thinking and decision-making.

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Several experts give advice that follows two key rules: buy low and buy long-term. To back this wisdom up, several major coins are now trading at much higher levels than last year – although it’s important to remember that it may not stay that way. 

Here are the price changes in some of the big coins that you might have your eye on.

Bitcoin 

September 2020: 10-11,000 USD, now: 47-48,000 USD

The original cryptocurrency has had a strange year. Despite record levels of growth – the coin has more than quadrupled in 12 months – it has also faced a range of issues.

China’s embargo on Bitcoin is probably the biggest, and when its government announced the ban in mid-2021, prices plummeted to 50% of their yearly high. El Salvador’s adoption of BTC, becoming the first nation ever to do so, also gave the coin an unexpected knock as the country’s systems struggled to cope.

Still, there’s no denying Bitcoin’s ability to bounce back from setbacks – and some analysts predict the coin to hit $100,000 in early 2022.

Ethereum   

September 2020: 300-400 USD, now: around 3,300 USD

The last year has been a rollercoaster ride for ETH investors, with highs that didn’t previously seem possible. A six-week jump in summer 2020 that almost doubled the coin’s price kicked it off, followed by a 50% dip, and then another doubling as the year ended with crypto prices rocketing.

Consistent rises this year, marked by a couple of sudden drops, have led to the price bobbing between the 3,000 and 4000 USD marks, which represents a stunning x10 value jump in the year.

ETH whales with six-figure investments might feel like they’ve hit the jackpot, with portfolios that probably resemble lottery jackpot wins.

A big reason behind ETH’s success is the rise of NFTs, with sites such as Rarible using it as their main currency to facilitate the trading of the tokens. While the next 12 months by no means offer a repeat of the same, it’s likely that ETH’s price will continue to rise. 

Cardano

September 2020: 0.10-0.12 USD, now: 2.30-2.40 USD

While BTC and ETH’s rises have been impressive, they pale in comparison to Cardano, otherwise known as ADA, after 19th century mathematician Ada Lovelace. 

The past year has seen it launched in Africa as part of a project aiming to develop the continent’s infrastructure and bring crypto technology to millions of Africans. Ada refers to it as its mission to ‘bring banks to the world’s unbanked’ and could see it become widespread in developing countries.

Billed as a leaner alternative to Ethereum – founder Charles Hoskinson is also co-founder of ETH – Cardano has seen an incredible leap in value – at one point this year, it weighed in at 2.90 USD, a x29 increase.

Over the last few weeks, it’s settled down to around 2.40 USD, but looks set to stay as one of BTC’s main challengers.

Litecoin

September 2020: 42-62 USD, now: 180-190 USD

Referred to as the silver to Bitcoin’s gold, Litecoin’s staying power should never be in doubt. Formed in 2011 by Charlie Lee, many predicted it to fall by the wayside, but it’s kept pace with headline-grabbers Bitcoin and Ethereum.

The last 12 months has seen a quadrupling in value for LTC after it rode the wave of the famous crypto rise of late 2020. It’s also had a good few months, threatening to break the 200USD limit on occasions. 

Like a Rocky Balboa, LTC keeps taking the punches and coming back for more. Could 2022 see it become the number one contender for the crypto belt?

Doge

September 2020: 0.0026-0.0032 USD, now: around 0.24 USD

Perhaps the biggest crypto shock story so far. Since its creation at the end of 2013, Dogecoin had often been dismissed as a joke coin – a silly internet meme thought up by Reddit members with nothing better to do.

However, a x100 increase a year later means not many people are dismissing it now. Helped by a somewhat cynical campaign of publicity stunts by Elon Musk, the coin rocketed in value in spring 2021, including a ridiculous rise of 300% in a single day. 

DOGE has since dropped to less than half of its 0.55 USD high, and many predict it to fizzle out – but after last year, who knows what will happen?

Solana (SOL)

September 2020: 2.40-3.50 USD, now: around 158 USD

Solana is one of the youngest blockchains around, with its whitepaper released in 2017, but that hasn’t stopped it turning 2021 into a golden year.

The coin has shown remarkable resilience to several challenges, particularly during the recent altcoin dip where it was the only one not to feel the effects of the China/El Salvador fallout. 

Whether it’s ready to step up to the level of the big boys remains to be seen, but a yearly rise that has seen its value multiply over 60 times is something to take note of.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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