What is the current price of Ethereum?
The price of Ethereum (1 ETH) is trading at $2,581.58 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 price chart
*Return comparisons are as of 8 a.m. ET.
Ethereum is not the first altcoin, but it is one of the most well-known. This cryptocurrency has seen rapid growth in blockchain and value since its launch in 2015.
ethereum price
This chart captures data as of 8 a.m. ET each day and does not display intraday highs or lows.
Ethereum’s 52-week intraday high was traded at $4,088.00 per ETH on March 12, 2024. The 52-week intraday low was $1,640.00 on October 26, 2023.
Major altcoins have changed the global financial market, with a global market capitalization of $310.62 billion. ETH is currently up 40% year over year.
Ethereum market capitalization
Ethereum’s market capitalization is $310.62 billion, making it the second largest cryptocurrency after Bitcoin. The same is true for some major blue-chip stocks. These include $297 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 network that facilitates secure decentralized financial transactions. Its native crypto is Ether.
Its programmable blockchain allows users to securely validate and execute code using smart contracts and decentralized applications. This differs from Bitcoin, which has a limited capacity to execute smart contracts. A smart contract is a software application that automatically executes on a blockchain when certain conditions are met.
By operating on a decentralized network, Ethereum helps users avoid third parties. This may be appealing if you don’t want to rely on big technology companies. For example, instead of running your software on Google’s servers, you can leverage Ethereum’s network.
It can run various applications such as socializing, gaming, gambling, and decentralized finance. The network also stores non-fungible tokens that represent ownership of unique digital assets.
Ethereum gas price
The Ethereum network is not free to use. Users will have to pay gas fees to support its operation, similar to highway tolls. Gas prices fluctuate depending on the supply and demand of the transaction.
Gas prices are expressed in gwei. One gwei represents one billionth of one ether.
Ethereum price history
Ethereum price 2015-2020
Ethereum was launched in July 2015 and hit an all-time low soon after. In October 2015, ETH traded for just 42 cents.
Cryptocurrencies grew in popularity in 2017, and in January 2018, ETH reached $1,000 for the first time. It peaked at about $1,300 a few weeks later.
The announcement of a Bitcoin futures contract by CME Group helped drive the surge in 2017. But as enthusiasm waned in 2018, prices fell. That led to the crypto winter.
In 2020 prices rose again. This time, the shutdown due to the coronavirus pandemic likely gave Ethereum a boost. Thanks to government stimulus checks and low interest rates, many Americans are investing their cash in cryptocurrencies.
Ethereum price 2021-2024
Ethereum price approached $5,000 in late 2021 and reached $4,891.70 on November 16, 2021. However, the cryptocurrency market cooled down in 2022 due to rising interest rates. High-profile bankruptcies have also hit the industry, most notably cryptocurrency exchange FTX in November 2022. The price of ETH fell to less than $900 that year.
However, cryptocurrencies rebounded. Prices will trend upward in 2023 and 2024. The Securities and Exchange Commission approved several Bitcoin Spot ETFs in January 2024.
The first EtherSpot ETF in the US began trading on July 23, 2024. Funding comes from Grayscale, Fidelity, BlackRock and others. These can be found on the Nasdaq, New York Stock Exchange, 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 $2,581.58.
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 92% year over year, while Ethereum price is up 40%.
How to buy Ethereum
Ethereum can be purchased on popular cryptocurrency exchanges such as Binance, Coinbase, and Kraken. Ethereum is traded under the symbol ETH. There are also online brokerages that support cryptocurrency trading, such as Robinhood, Interactive Brokers, and Webull.
Additionally, you can also purchase Ethereum through major payment apps Venmo and PayPal. Finally, you can buy Ethereum directly by searching for physical crypto ATMs that sell Ethereum.
How to store Ethereum
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)
What was the highest price of Ethereum?
Ethereum reached an intraday high of $4,891.70 on November 16, 2021.
Will Ethereum go up?
Ethereum, like other cryptocurrencies, is highly volatile. It is difficult to predict whether it will go up or down. Although ETH has performed well since its inception, there is no guarantee that this performance will continue in the future. Investors should be prepared for large fluctuations and the possibility of large losses.
