The market crisis in the crypto sector caused Ethereum’s price to plummet from an all-time high (ATH) of $4,350.
According to IntoTheBlock, this hasn’t dampened its spirits since it has provided an outstanding return on investment (ROI) so far this year compared to tech giants like Microsoft, Facebook, and Apple. According to the data science firm, ETH has outpaced Tech Stocks YTD despite the recent steep drop in price. Moreover, while well-known firms like Apple, Facebook, and Microsoft have experienced great returns of over 27% this year, ETH has an incredible ROI of 171%.
The decentralized finance (DeFi) and non-fungible token (NFT) industries drive Ethereum‘s mainstream acceptance.
In June, the cryptocurrency markets suffered negative trends.
The cryptocurrency markets continued to endure negative swings in June, according to on-chain data provider CryptoCompare, with both Bitcoin and Ethereum ending the month down. BTC futures products’ aggregate open interest decreased 31.8 percent to $9.7 billion, while ETH futures products plummeted 29.3 percent to $4.2 billion.
The crypto market did not fare well in June, with trade volumes on exchanges plummeting by more than 40% as Chinese authorities stepped up their anti-mining campaign.
Ethereum, on the other hand, continues to scale new heights thanks to low average costs, which recently plummeted to $2.19, the lowest level since December 2020. As a result, in the second quarter of 2021, its transactions totaled $2.5 trillion.