What is the current price of Ethereum?
The price of Ethereum (1 ETH) is trading at $2,529.37 as of 8 a.m. ET. The highest intraday price Ethereum reached in the past year was $4,088.00 on March 12, 2024.
ethereum chart
*Return comparisons are as of 8 a.m. ET.
Ethereum is not the first altcoin, but it is the most popular and successful. This cryptocurrency was born in 2015. Its blockchain has generated tremendous growth and revenue over the past nine years.
ethereum price
This chart captures data as of 8 a.m. ET each day and does not display intraday highs or lows.
Ethereum reached a 52-week intraday high of $4,088.00 on March 12, 2024 and a 52-week intraday low of $1,640.00 on October 26, 2023.
The global market capitalization of major altcoins is $304.23 billion. ETH increased by 42% year-on-year.
Ethereum market capitalization
Ethereum’s market capitalization is $304.23 billion, making it the second largest cryptocurrency after Bitcoin. The same is true for some major blue-chip stocks. These include $293 billion for The Coca-Cola Company (KO) and $270 billion for Merck & Company (MRK).
ETH is a popular choice among crypto investors. Together with Bitcoin, it accounts for 71% of the cryptocurrency market.
What is Ethereum and how does it work?
Ethereum is a blockchain-based decentralized platform. Promote safe financial transactions. The native token of the network is ether.
Bitcoin also uses blockchain technology. However, the behavior is different. Ethereum has a programmable blockchain that provides additional utility to users through smart contracts. Smart contracts are automatically executed when certain conditions are met.
Many users prefer Ethereum’s decentralized network, which does not rely on big tech companies. The small, private network of computers does not use cloud servers owned by Google or Amazon.
The Ethereum blockchain is used for decentralized finance, gaming, socializing, and gambling. Non-fungible tokens, unique digital collectibles, also exist on the blockchain. NFTs represent ownership of unique digital assets such as works of art, songs, videos, etc.
Ethereum gas price
Users pay Ethereum gas fees to process transactions and use smart contracts on the network. It’s similar to highway tolls.
Gas fees are paid in gwei, a unit representing one billionth of 1 ETH.
Ethereum price history
Ethereum price 2015-2020
Ethereum was launched in July 2015. Shortly thereafter, it hit an all-time low of 42 cents in October 2015.
But that didn’t last long. In 2017, transactions increased sharply. ETH reached $1,000 for the first time in January 2018. Just two weeks later, it reached a new high of $1,300.
The rally was driven by CME Group’s announcement that it will offer Bitcoin futures contracts. However, that enthusiasm faded in 2018. That year began a bear market often referred to as the “crypto winter.”
Another boom has arrived in 2020. The coronavirus disease (COVID-19) pandemic is believed to have played a major role. With the distribution of stimulus funds and low interest rates, many Americans had money to speculate.
Ethereum price 2021-2024
Ethereum nearly broke through $5,000 at the end of 2021 and reached $4,891.70 on November 16, 2021. But rising interest rates gave investors options and the market cooled again. High-profile bankruptcies, such as that of major cryptocurrency exchange FTX in November 2022, have also dealt a blow to the industry. ETH fell below $900 that year.
However, 2023 saw a new rally and more optimism from investors. That continues into 2024, with the Securities and Exchange Commission approving several Bitcoin spot ETFs in January.
The Ether Spot ETF began trading in the United States on July 23, 2024. Funding is provided by BlackRock, Fidelity, and Grayscale, to name a few. These can be found on the New York Stock Exchange, NASDAQ, and Chicago Options Exchange.
In early August 2024, the price of Ethereum plummeted after a widespread crypto selloff hit global markets. Prices were well above the $3,000 threshold on August 3rd, but fell to below $2,500 on August 4th. Currently, ETH is trading at $2,529.37.
Bitcoin price and Ethereum price
There is no doubt that Bitcoin and ETH have been great investments since Ethereum’s launch in 2015.
Last year’s enthusiasm for Bitcoin spot ETFs reversed the performance gap between the two major cryptocurrencies. Bitcoin price is up 97% year over year, while Ethereum price is up 42%.
How to buy Ethereum
Ethereum is available on major cryptocurrency exchanges such as Binance, Coinbase, and Kraken. It trades under the ticker symbol ETH. You can also trade cryptocurrencies at some online brokerages, including Robinhood, Interactive Brokers, and Webull.
You can buy Ethereum using popular payment apps like Venmo and PayPal. You can also purchase directly through physical crypto ATMs.
How to keep your Ethereum safe
Anyone who purchases Ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing banknotes in a physical wallet.
A private key is required to send and receive cryptocurrencies with your digital wallet. The person who controls the wallet’s private keys controls all cryptocurrencies associated with the wallet.
An Ethereum wallet can be a hardware wallet similar to a USB stick, or a software wallet app that stores ETH on your smartphone or another device. Hot wallets are connected to the internet, while cold wallets are not. Although hot wallets are generally considered more convenient, cold wallets can be safer and more secure.
Ethereum ETF
In addition to buying Ethereum directly, you can also speculate on the Ethereum market indirectly through Ethereum funds.
The SEC has approved the first wave of Ethereum futures ETFs in late 2023. These ETFs do not invest directly in Ethereum, but instead hold Ethereum futures contracts. Major Ethereum futures ETFs include VanEck Ethereum Strategy ETF (EFUT), ProShares Ether Strategy ETF (EETH), and Bitwise Ethereum Strategy ETF (AETH).
EtherSpot ETF debuted in July 2024. These include iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE).
Regarding spot holdings, a similar decision was made for Bitcoin ETFs in January 2024. The approval of spot ETFs signals that legal battles against some cryptocurrencies are softening.
Frequently asked questions (FAQ)
How is the price of Ethereum determined?
Ethereum does not represent ownership of an asset of tangible value and does not generate revenue, income, or cash flow. The price of ETH is determined solely by supply and demand. If the Ethereum network continues to grow in popularity over time, the demand for Ethereum is likely to increase over time.
Can I still mine Ethereum?
no. Ethereum mining is no longer necessary as the Ethereum network has been upgraded from a proof-of-work model to a proof-of-stake model. However, Ethereum investors can benefit from the proof-of-stake system by staking ETH.
