What is the price of ethereum today?
Ethereum, or 1 ETH, was trading at $2,636.77 as of 8:00 a.m. ET. The highest intraday price the cryptocurrency has reached in the past year was $4,088.00 on March 12, 2024.
Ethereum Chart
*Performance comparisons are as of 8 a.m. ET.
While not the first altcoin, Ethereum is one of the most well-known. The cryptocurrency has seen rapid growth in its blockchain and value since its launch in 2015.
Ethereum Price History
The chart pulls data at 8am ET daily and does not show intraday highs or lows.
Ethereum’s 52-week intraday high was $4,088.00 on March 12, 2024. Its 52-week intraday low was $1,520.00 on October 12, 2023.
The leading altcoin has revolutionized the global financial markets and has accumulated a market capitalization of $316.10 billion. Its value has increased by 66% compared to the previous year.
Ethereum Market Cap
Ethereum’s market capitalization is second only to Bitcoin. Bitcoin and Ethereum account for 70% of the cryptocurrency market. The third largest cryptocurrency is Solana. Its market capitalization is $88.31 billion.
Ethereum’s market capitalization is similar to that of major blue-chip stocks like Coca-Cola Co. (KO) at $307 billion and Merck & Co. (MRK) at $291 billion.
What is Ethereum? And how does Ethereum work?
Ethereum is a blockchain-based network that facilitates secure and decentralized financial transactions. Its native cryptocurrency is ether.
Its programmable blockchain allows users to securely verify and execute code using smart contracts and decentralized applications. This differs from bitcoin, which has a limited ability to execute smart contracts. Smart contracts are software applications that automatically run on the blockchain when specific conditions are met.
By running on a decentralized network, Ethereum allows users to bypass third parties. This might be of interest to you if you don’t want to depend on big tech companies. Instead of running software on Google’s servers, for example, you can leverage Ethereum’s network.
It can run a variety of applications for socializing, gaming, betting, and decentralized finance. The network is also home to non-fungible tokens, which represent ownership of unique digital assets.
Ethereum Gas Price
Users pay Ethereum gas fees to process transactions or use smart contracts on the network. They are similar to highway tolls.
Gas fees are paid in gwei, a unit representing one billionth of an ETH.
A History of Ethereum Prices
Ethereum Price 2015-2020
Like Bitcoin and other leading 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 volumes began to snowball in 2017. ETH prices first hit $1,000 in January 2018. The crypto eventually peaked at around $1,300 less than two weeks later.
CME Group’s announcement that it would launch bitcoin futures spurred Ethereum’s rise in 2017. These were the first cryptocurrency-related products offered by a regulated U.S. financial institution.
Cryptocurrency enthusiasm faded in 2018. This led to one of the many crypto winters of the last decade.
The next cryptocurrency boom began in 2020. This time, ETH’s parabolic rise was driven in part by the government shutting down sports, casinos, and other leisure and entertainment options. Multiple government stimulus checks also left many Americans with extra disposable income to buy cryptocurrencies.
Ethereum Price 2021-2024
The price of Ethereum reached $4,891.70 on November 16, 2021. But rising interest rates have dampened investor enthusiasm for risk assets in 2022. A series of layoffs and bankruptcies in the crypto industry have weighed on cryptocurrency prices, culminating in the bankruptcy of major cryptocurrency exchange FTX in November 2022. ETH prices fell below $900 during the crypto winter of 2022.
Ethereum’s rally resumed in 2023 and 2024 as investors grew more optimistic about the U.S. economic outlook. The Securities and Exchange Commission’s approval of several Bitcoin spot ETFs in January 2024 further bolstered Ethereum prices.
Spot Ether ETFs began trading in the United States on July 23, 2024. Some of these funds are from BlackRock, Fidelity, and Grayscale. They are available on the Chicago Board Options Exchange, the New York Stock Exchange, and the Nasdaq.
In early August 2024, Ethereum prices plummeted after a wave of cryptocurrency selloffs in global markets. Prices fell from well above the $3,000 threshold on August 3 to below $2,500 on August 4. Currently, ETH is trading at $2,636.77.
Bitcoin Price vs Ethereum Price
Since Ethereum’s launch in 2015, both Ethereum and Bitcoin have seen massive growth.
The performance gap between the two has narrowed with the launch of Bitcoin spot ETFs. Ethereum is up 66% year-over-year, compared to a 143% gain for Bitcoin.
How to buy ethereum
A popular way to buy ETH is through cryptocurrency exchanges like Binance, Coinbase, and Kraken.
You may be more comfortable using online brokers that support cryptocurrency trading, such as Interactive Brokers, Webull, and Robinhood.
Payment apps like Venmo and PayPal offer options to buy ETH. Cryptocurrency ATMs also allow direct purchases.
How to store Ethereum
To store, send and receive ETH you need a crypto wallet.
Private keys protect these digital wallets. The person who owns the private key controls the contents of the wallet.
Ethereum wallets come in a variety of forms. Some are hardware wallets that look like USB sticks. Others are software wallet apps on smartphones, tablets, or computers. Wallets can also be hot or cold. Hot wallets are connected to the internet, which provides more convenience. Cold wallets are not connected to the internet and are generally considered more secure.
Ethereum ETF
Investors now have the option to buy ETH directly. Ethereum Fund
Approved by the SEC in late 2023, Ethereum futures ETFs are relatively new. They don’t invest directly. Instead, they hold futures contracts. The Bitwise Ethereum Strategy ETF (AETH), VanEck Ethereum Strategy ETF (EFUT), and ProShares Ether Strategy ETF (EETH) are the three major Ethereum futures ETFs.
Spot Ether ETFs, which include the iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE), were launched in July 2024.
The approval of Bitcoin and Ether spot ETFs could indicate an easing of some cryptocurrencies in their legal battles.
Frequently Asked Questions (FAQ)
Ethereum hit its all-time intraday high of $4,891.70 on November 16, 2021.
Ethereum and other cryptocurrencies are extremely volatile, making it difficult to predict their price movements. Ethereum has generally performed exceptionally well since its launch in 2015. However, past performance is no guarantee of future results.
