With a monstrous rally of 1,087% since the beginning of the year, Cardano’s ADA tokens have become the fourth-largest cryptocurrency globally, drawing more and more attention in the crypto space. Over the last ten months, Cardano has outperformed many other investment assets and brought impressive returns to those who invested in ADA coins a few years ago.
According to data presented by Block Arabia, Cardano’s two-year investment return hit over 2,100% last week, despite the crypto price drop in September.
A $1,000 Investment in Cardano Two Years Ago Would Be Worth $22,600 Today
After steady growth throughout the third quarter of the year, September has been pretty dynamic for the global crypto market. Since the beginning of the month, the world’s leading digital coins have all witnessed significant price drops, following a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptos illegal in the country. Nevertheless, profits from investing in Cardano remained high.
Assuming an investor bought $1,000 worth of ADA tokens in October 2019, they would have picked up 10,252 coins priced at around $0.09754. A year later, in October 2020, Cardano’s price rose by 10%, turning that $1,000 investment into $1,100.
However, in 2021, the price of ADA coins exploded. In the first three months only, it soared by 584% to $1.21 and continued rising. On May 16, it jumped to $2.30 and then dropped sharply in June and July after the crypto price crash.
During August, Cardano’s price bounced back and continued growing, reaching an all-time high of $3 on September 3. Although this value plunged by 30% to $2.21 last week, that is still 22 times more than its price two years ago, meaning that $1,000 would be worth $22,600 today.
Cardano Among Top Three Fastest Growing Digitals Coins in the Crypto Space
Compared to the world’s leading cryptocurrencies, Cardano has a significantly lower price. However, Ethereum’s competitor was one of the fastest-growing digital coins in the crypto space this year.
The CoinMarketCap data showed Cardano was the only crypto, besides Solana and Dogecoin, with a four-digit YTD price growth.
Between January and October, the price of a single ADA coin soared by 1,087%, which is triple the growth rate of Ethereum and twelve times more than the growth of Bitcoin in this period. Statistics show Cardano’s price jumped by 55% in the last three months only, driving its market cap to over $70.7bn and ranking it as the fourth-largest crypto globally.