By Hassan Mehmood (Saudi Arabia)
Stimulus money is distributed by the US government to edge economy and to help citizens to face the calamities created by the Coronavirus pandemic. Cryptocurrency exchanges have witnessed a great inflow of stimulus package- $1200- into cryptocurrency. In top assets, Ethereum is at the top of the list that benefits the most in terms of return on investment.
Purpose of Stimulus Package
Since the onset of Coronavirus, the Federal Reserve is busy printing money more and more. Since the start of 2020, the Fed has printed more than $3 trillion, and the process of printing is still continued. Citizens over 18 years old are eligible to get a stimulus package of $1200.
Jobless rates in the US have increased to an unprecedented limit due to the effects of the Coronavirus. To overcome this situation and to free economic activity from the consequences of the pandemic, the Fed is printing and distributing cash among people. The money is being used by the US people to fulfill everyday needs from bills to investments.
Also read:Ethereum with Highest ROI Value since April
As the printer of the Fed is on, inflation is increasing day by day, which turns investors’ attention towards the assets having limited supplies, including gold, Bitcoin, Ethereum, other altcoins. Out of the four top-performing assets- including Bitcoin, Ethereum, gold, and S&P- Eth is at the top in giving a high return on investment.
Since April 2020, the ROI value of Ehereum has surged by 150%, which means that investment of $1200 has resulted in $3000. While ROI values for Bitcoin, gold, and S&P 500 stand at 72%, 22%, and 20%, respectively.
On the other hand, if we compare only crypto assets, Cardano (ADA) is at the top of the list while Chainlink (LINK) and Ethereum (Eth) reside at second and third positions respectively.
Money printing on the part of the Fed is one of the major reasons why cryptocurrency markets are shining.
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