What is the current price of Ethereum?
Ethereum (1 ETH) is trading at $2,417.34 as of 8 a.m. ET. The highest intraday price reached by the cryptocurrency 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 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 $1,537.63 on October 13, 2023.
Major altcoins have changed the global financial market, with a global market capitalization of $290.86 billion. ETH is currently up 56% year over year.
Ethereum market capitalization
Ethereum’s market capitalization is $290.86 billion, making it the second largest cryptocurrency after Bitcoin. The same is true for some major blue-chip stocks. These include $298 billion for The Coca-Cola Company (KO) and $278 billion for Merck & Company (MRK).
ETH is a popular choice among crypto investors. Together with Bitcoin, they account for 70% of the virtual currency 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. 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.
But a new rally occurred in 2023, creating even 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 $2,417.34.
Bitcoin price and Ethereum price
Ethereum was launched in 2015. Since then, both Ethereum and Bitcoin have been great investments.
With the SEC’s approval of the Bitcoin Spot ETF in early 2024, the performance gap between the two cryptocurrencies has reversed. BTC is up 128% year-on-year, and ETH is up 56%.
How to buy Ethereum online
One of the common ways to purchase ETH is through cryptocurrency exchanges such as Binance, Coinbase, and Kraken.
You may be more comfortable using an online brokerage that supports cryptocurrency trading, such as Interactive Brokers, Webull, or Robinhood.
Payment apps like Venmo and PayPal have options for purchasing ETH. Direct purchases are also possible at cryptocurrency ATMs.
How to keep your Ethereum safe
To store, send and receive ETH, you need a cryptocurrency wallet.
Private keys secure these digital wallets. The person who has the private key controls the contents of the wallet.
Ethereum wallets come in different formats. There are also hardware wallets that look like USB sticks. Others include software wallet apps on your smartphone, tablet, or computer. Your wallet may also become hot or cold. Hot wallets are convenient because they can be connected to the internet. Cold wallets are generally considered more secure because they are not connected to the internet.
Ethereum ETF
Investors now have options other than buying ETH directly. ethereum fund
Approved by the SEC in late 2023, Ethereum futures ETFs are relatively new. They don’t invest directly. Rather, they hold futures contracts. Bitwise Ethereum Strategy ETF (AETH), VanEck Ethereum Strategy ETF (EFUT), and ProShares Ether Strategy ETF (EETH) are the three main Ethereum futures ETFs.
Ether Spot ETFs, which include iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE), debuted in July 2024.
The approval of a Bitcoin and Ether spot ETF could signal a softening of the legal battle stance against some cryptocurrencies.
Frequently asked questions (FAQ)
What was the highest price of Ethereum?
Ethereum’s intraday high was $4,891.70. This price was reached on November 16, 2021.
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.
