In the dynamic world of cryptocurrencies, Ethereum has been a prominent player. As of today, the price of Ethereum stands at ₹1.5 lakh. If you had invested ₹1,000 in Ethereum exactly a year ago, your investment would now be worth ₹1,038, marking a modest increase.

On June 6, 2022, the closing price of Ethereum was approximately ₹1.44 lakh. Fast forward a year, and the price has risen by ₹5,473. This means that an investment of ₹1,000 would have fetched you 0.00692 Ethereum a year ago, which would now be worth ₹1,038.

Ethereum has been in the news recently for several reasons. Major cryptocurrencies, including Ethereum, experienced a significant drop after the Securities and Exchange Commission (SEC) filed charges against Binance, one of the largest cryptocurrency exchanges. Furthermore, Binance saw over $300 million (approximately ₹2,200 crore) of losses in liquidations over a single day. Amidst this turmoil, Ethereum co-founder Jeffrey Wilcke transferred a staggering $41.1 million (approximately ₹300 crore) worth of Ethereum to the Kraken exchange.

See also: If You Invested ₹1,000 In Bitcoin A Year Ago, Here’s How Much You’d Have Right Now

In India, the regulatory environment around cryptocurrencies has been evolving. The country recently brought crypto businesses under anti-money laundering rules, and these rules will apply to crypto trade. These developments have added a layer of regulatory oversight to the industry.

As per the latest data from CoinMarketCap, Ethereum is trading at $1,819.36. The cryptocurrency market is highly volatile, and Ethereum is no exception. Despite the recent challenges, Ethereum has managed to hold its ground and deliver returns to its investors.

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Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.

Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.

Investing in cryptocurrencies like Ethereum and Bitcoin involves significant risk due to their volatile nature. Investors should carefully consider their risk tolerance and investment goals before investing in the crypto market.