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This Crypto Miner Has Generated A Better 1-Year Return Than Bitcoin, Ethereum And XRP

This Crypto Miner Has Generated A Better 1-Year Return Than Bitcoin, Ethereum And XRP
Written by publisher team

Financial markets have become volatile lately, with risk aversion exerting downward pressure on asset classes such as stocks. Stocks, which have weathered the COVID-19 pandemic fairly well, have been under pressure amid interest rate hike concerns.

Against this background, the endeavor will be to discover a good investment that can be a safe bet.

Cryptos Rally loses Steam: The crypto universe was on the rise from late 2020 through mid-April 2021, as the world slowly and steadily emerged from the COVID-19 pandemic. Most cryptocurrencies recorded amazing gains during this time.

Subsequently, the cryptocurrency plummeted and fell in mid-July before making a comeback. Even amid the volatility, the cryptocurrency is trading with notable gains for a period of one year.

over the past year, Bitcoin (CRYPTO: BTC) has gained around 278%. Incidentally, the most valuable cryptocurrency peaked at $64,863.10 in mid-April before pulling back and is currently trading north of the $40,000 level.

Ethereum (CRYPTO: ETH), the most valuable altcoin, is up about 680% over the past year. The crypto peaked at $4,362.35 on May 12, but has almost halved since then. It is currently trading around the $2800 level.

XRP (CRYPTO: XRP), part of Ripple Labs, is up about 167% in the past year and is currently trading at about 91 cents.

Related link: Is Mara a good buy

Crypto game over cryptocurrency: Marathon Digital Holdings Inc (NASDAQ:MARA), a cryptocurrency mining company with a focus on the blockchain ecosystem and digital asset generation, stands head and shoulders over most cryptocurrencies in terms of one-year returns.

From just $2.02 in late September 2020, Marathon Digital recorded its entry into the double-digit territory on December 21. The mine rose steadily through early April 2021, with the stock hitting a multi-year high of $57.75 on April 6.

The downturn that followed saw the stock plummet all the way to $18.32 on May 13, a peak low of 68%.

Marathon has made a steady recovery since then, and despite the mid-year hiccups, the stock is still up 1,521% over the past year.

In a note issued in mid-September, analyst Lucas Pipes B. Riley maintained Marathon’s buy rating and raised its target price from $54 to $87, based on a slower-than-expected increase in the total network hash rate after the crackdown on digital asset mining in China.

In its last check on Wednesday at market close, Marathon fell 6.53% to $30.61.

Related Link: How Much Bitcoin Miners Are Making – And What Does China’s Ban Mean for the Market?

Photo: Pete Linforth via Pixabay

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