What is the price of Ethereum today?
The price of Ethereum (1 ETH) was $2,389.66 as of 8 a.m. ET. The highest intraday price of the cryptocurrency over the past year was $4,088.00 on March 12, 2024.
Ethereum Price Chart
*Return comparisons are as of 8am ET.
Ethereum is not the first altcoin, but it is one of the best known. This cryptocurrency has seen rapid growth in its blockchain and value since its launch in 2015.
Ethereum Price
The chart above is pulled from data as of 8am ET each day and does not show intraday highs or lows.
Ethereum’s 52-week high was recorded on March 12, 2024, when it was traded at $4,088.00 per ETH. The 52-week low was recorded on October 12, 2023, when it was traded at $1,520.00.
Leading altcoins have transformed global financial markets, with the total global market capitalization reaching $285.58 billion. ETH is currently up 47% year-over-year.
Ethereum Market Cap
Currently, Ethereum has a market cap of $285.58 billion, second only to Bitcoin. Bitcoin and Ethereum combined make up 71% of the entire cryptocurrency market. While Ethereum is the leading altcoin, other altcoins also have relatively high market caps. These include Solana with a market cap of $76.11 billion, XRP with $53.84 billion, and everyone’s favorite “meme” coin DOGE with $14.14 billion.
The combined cryptocurrency market dominance of Bitcoin and Ethereum has fluctuated over the years, but since the second half of 2022, it has been steadily trending upwards.
Ethereum’s market cap of $285.58 billion is on par with some large blue-chip stocks, including Coca-Cola (KO) at $309 billion and Merck (MRK) at $303 billion.
What is Ethereum?
Ethereum is a blockchain-based network that facilitates secure, decentralized financial transactions. Its native cryptocurrency is Ether.
Programmable blockchain allows users to securely verify and execute code using smart contracts and decentralized applications. This differs from Bitcoin, which has limited ability to execute smart contracts. Smart contracts are software applications that run automatically on the blockchain when certain conditions are met.
By running on a decentralized network, Ethereum allows users to avoid third parties, which may be appealing if you don’t want to rely on large tech companies – instead of running your software on Google’s servers, for example, you can leverage the Ethereum network.
It can run a variety of applications for 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 must pay gas fees, similar to tolls on a highway, that help keep the network running. Gas fees fluctuate based on the supply and demand of transactions.
Gas fees are measured in gwei, where 1 gwei represents 1 billionth of an Ether.
Ethereum Price History
Ethereum Price 2015-2020
Like Bitcoin and other major cryptocurrencies, Ethereum had humble beginnings. Shortly after its launch in July 2015, ETH hit an all-time low of 42 cents in October 2015.
Cryptocurrency popularity and trading volume began to skyrocket in 2017. The price of ETH hit $1,000 for the first time in January 2018. The cryptocurrency eventually peaked at around $1,300 less than two weeks later.
Ethereum’s 2017 rally was driven by CME Group’s announcement that it would launch a bitcoin futures contract, the first crypto-related product offered by a regulated U.S. financial institution.
Enthusiasm for cryptocurrencies cooled in 2018, leading to several crypto winters over the past decade.
The next cryptocurrency boom began in 2020. This time, ETH’s meteoric rise was driven in part by government shutdowns of sports, casinos, and other leisure and entertainment options, while multiple government stimulus packages gave many Americans extra disposable income to buy cryptocurrency.
Ethereum Price 2021-2024
The price of Ethereum reached $4,891.70 on November 16, 2021. However, rising interest rates dampened investor enthusiasm for risk assets in 2022. A series of crypto industry layoffs and bankruptcies weighed on crypto prices, leading to the collapse of major crypto exchange FTX in November 2022. During the 2022 crypto winter, the price of ETH fell below $900.
Ethereum’s rally resumed in 2023 and 2024 as investors became more optimistic about the outlook for the U.S. economy. The Securities and Exchange Commission’s approval of multiple Bitcoin spot ETFs in January 2024 further boosted Ethereum prices.
Ether Spot ETFs began trading in the United States on July 23, 2024. Some of these funds are offered by BlackRock, Fidelity, and Grayscale. They can be found on the Chicago Board Options Exchange, the New York Stock Exchange, and the Nasdaq.
In early August 2024, the price of Ethereum plummeted after a widespread crypto sell-off hit global markets. The price was well above the $3,000 threshold on August 3, but plummeted to below $2,500 on August 4. Currently, ETH is trading at $2,389.66.
Ethereum Price vs. Bitcoin Price
Ethereum was launched in 2015. Since then, both Ethereum and Bitcoin have become great investments.
With the SEC approving a Bitcoin Spot ETF in early 2024, the performance disparity between the two cryptocurrencies has reversed, with BTC up 118% year-over-year and ETH up 47%.
How to Buy Ethereum
Ethereum can be purchased on popular cryptocurrency exchanges such as Binance, Coinbase, and Kraken. Ethereum trades under the symbol ETH. There are also online brokerages that support cryptocurrency trading, such as Robinhood, Interactive Brokers, and Webull.
Additionally, you can also buy Ethereum through major payment apps Venmo and PayPal. Finally, you can also buy Ethereum directly by finding a physical cryptocurrency ATM that sells Ethereum.
How to store Ethereum safely
Those who buy Ethereum directly will need to store their ETH in a cryptocurrency wallet, much like storing paper money in a physical wallet.
A digital wallet requires a private key to send or receive cryptocurrency. Whoever controls the private key for a wallet controls all of the cryptocurrency 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 other device. Hot wallets are connected to the internet while cold wallets are not. Hot wallets are generally considered more convenient, but cold wallets can be safer and more secure.
Ethereum ETF
In addition to buying Ethereum directly, you can also speculate in the Ethereum market indirectly via Ethereum Funds.
The SEC has approved the first wave of Ethereum Futures ETFs in late 2023. These ETFs will hold Ethereum futures contracts rather than investing directly in Ethereum. Leading Ethereum Futures ETFs include VanEck Ethereum Strategy ETF (EFUT), ProShares Ether Strategy ETF (EETH), and Bitwise Ethereum Strategy ETF (AETH).
In July 2024, Ether Spot ETFs debuted, including iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE).
A similar decision was made for a Bitcoin ETF regarding spot holdings in January 2024. The approval of the spot ETF signals a softening of the stance in some legal battles against cryptocurrencies.
Frequently Asked Questions (FAQ)
Ethereum’s all-time high was $4,891.70. This price was reached on November 16, 2021.
No. The Ethereum network has upgraded from a Proof of Work model to a Proof of Stake model, so Ethereum mining is no longer necessary. However, Ethereum investors can still benefit from the Proof of Stake system by staking their ETH.
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