The cryptocurrency market is known for its volatility, with prices of individual coins rising and falling dramatically over short periods. Two of the most prominent cryptocurrencies, Ethereum (ETH) and Cardano (ADA), have seen significant price movements over the past year. In this article, we’ll delve into the correlation between their price movements and analyze which of the two might be a more profitable investment. Let’s take a look at this Ethereum vs Cardano article in more detail.
Month | Price (USD) |
Nov 2022 | $1,572.65 |
Dec 2022 | $1,295.77 |
Jan 2023 | $1,196.71 |
Feb 2023 | $1,586.49 |
Mar 2023 | $1,606.04 |
Apr 2023 | $1,821.70 |
May 2023 | $1,868.89 |
Jun 2023 | $1,873.91 |
Jul 2023 | $1,933.32 |
Aug 2023 | $1,856.19 |
Sep 2023 | $1,645.58 |
Oct 2023 | $1,671.16 |
Month | Price (USD) |
Nov 2022 | $0.4063 |
Dec 2022 | $0.3189 |
Jan 2023 | $0.2464 |
Feb 2023 | $0.3909 |
Mar 2023 | $0.3525 |
Apr 2023 | $0.3989 |
May 2023 | $0.3973 |
Jun 2023 | $0.3744 |
Jul 2023 | $0.2870 |
Aug 2023 | $0.3075 |
Sep 2023 | $0.2554 |
Oct 2023 | $0.2540 |
From the data, it’s evident that both Ethereum and Cardano experienced fluctuations in their prices over the past year. Ethereum’s price ranged from a low of $1,196.71 in January 2023 to a high of $1,933.32 in July 2023. On the other hand, Cardano’s price saw a low of $0.2464 in January 2023 and a high of $0.3989 in April 2023.
While both cryptocurrencies experienced their lowest prices in January 2023, Ethereum’s price rebounded more significantly than Cardano’s in the subsequent months.
To determine which cryptocurrency would have been more profitable:
From the above calculations, it’s clear that an investment in Ethereum would have been more profitable than Cardano over the past year, with a profit margin almost 5 times greater.
To predict the potential profitability of Ethereum and Cardano by Christmas 2023, we can use their current prices as a starting point and consider their historical performance and market trends.
Assuming a linear growth based on their past year’s performance:
Without exact average monthly growth rates, it’s challenging to provide a precise prediction. To compute the monthly growth rates, we’ll use the formula:
Growth Rate=(End Price−Start Price/Start Price)×100
Let’s calculate the monthly growth rates for both Ethereum (ETH) and Cardano (ADA) based on the provided data:
Based on the current prices, Ethereum seems to have a higher potential for profitability by Christmas 2023, given its more substantial price and historical performance.
While past performance is not indicative of future results, the data suggests that Ethereum has been a more profitable investment compared to Cardano over the past year. However, investors should always conduct their own research and consider multiple factors before making investment decisions.
The cryptocurrency market is known for its volatility, with prices of individual coins rising and falling dramatically over short periods. Two of the most prominent cryptocurrencies, Ethereum (ETH) and Cardano (ADA), have seen significant price movements over the past year. In this article, we’ll delve into the correlation between their price movements and analyze which of the two might be a more profitable investment. Let’s take a look at this Ethereum vs Cardano article in more detail.
Month | Price (USD) |
Nov 2022 | $1,572.65 |
Dec 2022 | $1,295.77 |
Jan 2023 | $1,196.71 |
Feb 2023 | $1,586.49 |
Mar 2023 | $1,606.04 |
Apr 2023 | $1,821.70 |
May 2023 | $1,868.89 |
Jun 2023 | $1,873.91 |
Jul 2023 | $1,933.32 |
Aug 2023 | $1,856.19 |
Sep 2023 | $1,645.58 |
Oct 2023 | $1,671.16 |
Month | Price (USD) |
Nov 2022 | $0.4063 |
Dec 2022 | $0.3189 |
Jan 2023 | $0.2464 |
Feb 2023 | $0.3909 |
Mar 2023 | $0.3525 |
Apr 2023 | $0.3989 |
May 2023 | $0.3973 |
Jun 2023 | $0.3744 |
Jul 2023 | $0.2870 |
Aug 2023 | $0.3075 |
Sep 2023 | $0.2554 |
Oct 2023 | $0.2540 |
From the data, it’s evident that both Ethereum and Cardano experienced fluctuations in their prices over the past year. Ethereum’s price ranged from a low of $1,196.71 in January 2023 to a high of $1,933.32 in July 2023. On the other hand, Cardano’s price saw a low of $0.2464 in January 2023 and a high of $0.3989 in April 2023.
While both cryptocurrencies experienced their lowest prices in January 2023, Ethereum’s price rebounded more significantly than Cardano’s in the subsequent months.
To determine which cryptocurrency would have been more profitable:
From the above calculations, it’s clear that an investment in Ethereum would have been more profitable than Cardano over the past year, with a profit margin almost 5 times greater.
To predict the potential profitability of Ethereum and Cardano by Christmas 2023, we can use their current prices as a starting point and consider their historical performance and market trends.
Assuming a linear growth based on their past year’s performance:
Without exact average monthly growth rates, it’s challenging to provide a precise prediction. To compute the monthly growth rates, we’ll use the formula:
Growth Rate=(End Price−Start Price/Start Price)×100
Let’s calculate the monthly growth rates for both Ethereum (ETH) and Cardano (ADA) based on the provided data:
Based on the current prices, Ethereum seems to have a higher potential for profitability by Christmas 2023, given its more substantial price and historical performance.
While past performance is not indicative of future results, the data suggests that Ethereum has been a more profitable investment compared to Cardano over the past year. However, investors should always conduct their own research and consider multiple factors before making investment decisions.