13.4 C
Munich
Sunday, July 3, 2022

Investing Stimulus Checks In This Cryptocurrency Would Have Fetched Whopping 23674% Returns Now – Bitcoin – United States Dollar ($BTC)

Must read



Americans have recieved three rounds of stimulus payments from the government. In 2020, the Coronavirus Aid, Relief and Economic Act mandated payments of $1,200 for eligible adults — another $500 was available for those with qualifying children.


In December, 2020, the Tax Relief Act declared additional $600 payments for eligible adults and up to $600 for those with qualifying children.

Last year, the American Rescue Plan gave $1,400 payment to eligible adults and up to $1,400 for those with qualifying children.


See Also: How To Buy Terra (LUNA)

The Investment: Supposing an investor had purchased Terra (LUNA) with three of their stimulus checks valued at $1,200, $600, and $1,400 respectively on April 11, 2020, Dec. 29, 2020, and March 12, 2021, here’s how much they would have at press time when the coin traded at $94.82.

Date Of Purchase Stimulus Amount Purchase Price Coins Obtained Current Worth Percentage Change
April 11, 2020 $1200 $0.19 6465.517 $613,060 50988%
Dec 29, 2020 $600 $0.648 925.926 $87,796 14533%
March 12, 2021 $1200 $14.16 98.87 $9374.85 569%
Total $3000   7490.313 $710,230 23674.33%

Why Luna Is Rising: Notably, LUNA hit an all-time high of $104.58 on Wednesday. At press time, it traded almost 9.1% below that level. Since the year began, LUNA has shot up 6.2%. Comparatively Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) — the top two cryptocurrencies by market cap — have declined 14.35% and 29.3%, respectively, in a similar period.


Terra’s network consists of two tokens, a stablecoin called TerraUSD (UST), which tracks the price of the dollar and LUNA. UST is underpinned by a mechanism that involves burning LUNA.


The rise in LUNA comes at a time when it has registered a growth in its ecosystem. Over the past 30 days alone TerraSwap, a leading decentralized exchange of Terra, witnessed over $1.45 billion of UST traded.

Terra’s Growth Through Graphics — Courtesy app.terraswap.io

Read Next: Ethereum Co-Founder Vitalik Buterin Urges Compassion For Russians, Belarusians Resisting Putin’s ‘Z-ombie Regime’



Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article