In the world of crypto, it's not uncommon to see the phrase "to the moon", usually expressed in a sort of hopeful, wistful tone of zealous enthusiasm. What I wonder, though, is at what point can a cryptocurrency be considered to have reached the moon, or to have landed on it? How much does the value of it have to increase in order to meet that criteria?
Looking at the performance of Solana (SOL) over the course of the last six (6) months (~+477%) and the course of 2021 (~+11 370%), I'd argue that if ever there was a candidate, Solana is it. Shiba Inu, and Polygon (~+11 500), however, far outstrip it, as will be shown below.
Admittedly, I've never been much of a Maths brain, so I have difficulty with the concept of anything increasing by more than 1 000%; 11 300% is just as mind-boggling to me as the advances in technology required to get a craft from near-Earth orbit to the surface of the moon and back in the space of ten years. (At the scale where the Earth is the size of a basketball, you're moving something from about a fingernail's width away from it to a distance of at least 100m. It's probably twice that or more, for all I know. I can't recall what James May said and I can't find a source to cite. If anybody has one, I'd be grateful, but I'm not going to double your crypto. However, the point still stands: The difference is stupendous and incomprehensible for my brain).
Now, let's have a look at some figures, since FinTech people like them: If you invested $1 000 each in a number of cryptocurrencies on the first of January (2021/01/01), here's what each of those would be worth today (2021/12/31):
- Shiba Inu (SHIB): $573 000 000 (five hundred and seventy-three million)
- Axie Infinity (SLP): $223 250 (two hundred and twenty-three thoudand, two hundred and fifty)
- Polygon (MATIC): $101 500 (one hundred and one thousand, five hundred)
- Solana (SOL): $101 370 (one hundred and one thousand, three hundred and seventy)
Source: Supposedly in a tweet by Elon Musk, forwarded to me by a friend whom I trust to not lead me astray on crypto-related matters, although I don't have a permalink to it and cannot find that tweet in his channel when I went to check. (Further research shows that the "Official Elon Musk" account, which did post it, was actually that of the scammer who ran the Crypto Doubler rug pull, so I'd double-check those figures before believing them, if I were you.)
Holy guacamole, Batman! That's insane! I now see why people are so keen on these cryptocurrencies, what all the fuss and hype is about (even if it's just that). Now, while I don't expect them to do as well in 2022 (although they could, for all I know; I'm being pessimistic here), even if they do half or a quarter as well, it's definitely worth acquiring and HODLing some of them.
Post Thumbnail image: Photo by Pixabay from/on Pexels (modified)
