What is the current price of ethereum?
Ethereum, or 1 ETH, traded at $2,454.89 as of 8 a.m. ET. The highest intraday price the cryptocurrency reached in the past year was $4,088.00 on March 12, 2024.
Ethereum chart
*The return comparisons are as of 8 a.m. ET.
While not the first altcoin, ethereum is among the best-known. The cryptocurrency has seen rapid growth in its blockchain and value since its 2015 launch.
Ethereum prices
The chart pulls data as of 8 a.m. ET daily and doesn’t 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 $1,850.00 on Nov. 7, 2023.
The leading altcoin has a global market capitalization of $297.98 billion. Year over year, ETH has increased 30%.
Ethereum market cap
Ethereum’s market capitalization of $297.98 billion is second to bitcoin’s. It’s similar to some major blue-chip stocks. These include the Coca-Cola Co. (KO) at $280 billion and Merck & Co. (MRK) at $258 billion.
ETH is a popular choice among crypto investors. Together with bitcoin, it makes up 72% of the crypto market.
What is ethereum? And how does ethereum work?
Ethereum is a blockchain-based network created to facilitate secure, decentralized financial transactions. The network’s native cryptocurrency is ether.
Unlike bitcoin, ethereum’s programmable blockchain allows users to securely verify and execute code, including smart contracts and decentralized applications. Smart contracts on the ethereum network are software applications that run automatically on the blockchain when certain predetermined conditions are met.
The ethereum network’s decentralized nature allows developers to run programs without relying on Big Tech companies or other third parties. Rather than running software on cloud servers housed in massive data centers owned by Google, ethereum users can run applications by leveraging ethereum’s large network of small, private computers.
Applications on the ethereum blockchain include gaming, socializing, gambling and decentralized finance options. The ethereum blockchain is also home to the world’s most significant nonfungible tokens. NFTs are unique digital creations representing ownership of digital property, such as a work of art, song or video.
Ethereum gas price
Users pay ethereum gas fees to process transactions or use smart contracts on the network. They’re similar to highway tolls.
Gas fees are paid in gwei, a unit representing one billionth of one ETH.
A history of ethereum prices
Ethereum prices 2015-2020
Like bitcoin and other leading cryptocurrencies, ethereum had humble beginnings. Shortly after its launch in July 2015, ETH hit its all-time low of 42 cents in October 2015.
The popularity and trading volumes of cryptocurrencies started to snowball in 2017. ETH prices reached $1,000 for the first time in January 2018. The crypto ultimately peaked at around $1,300 less than two weeks later.
CME Group’s announcement that it would launch bitcoin futures contracts drove ethereum’s 2017 rally. They were the first cryptocurrency-related products offered by a regulated U.S. financial institution.
Enthusiasm for cryptocurrency died down in 2018. That led to one of several crypto winters in the past decade.
The next crypto boom began in 2020. This time, ETH’s parabolic rise was partly driven by government shutdowns of sports, casinos, and other leisure and entertainment options. Multiple government stimulus checks also left many Americans with extra disposable income to buy crypto.
Ethereum prices 2021-2024
Ethereum prices reached $4,891.70 on Nov. 16, 2021. But rising interest rates cooled investor enthusiasm for risk assets in 2022. A string of crypto industry layoffs and bankruptcies weighed on crypto prices, culminating in the bankruptcy of leading cryptocurrency exchange FTX in November 2022. ETH prices dipped below $900 during the 2022 crypto winter.
The ethereum rally resumed in 2023 and into 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.
Ether spot ETFs began trading in the U.S. on July 23, 2024. Some of these funds come from BlackRock, Fidelity and Grayscale. They can be found on the Chicago Board Options Exchange, New York Stock Exchange and Nasdaq.
In early August 2024, ethereum prices plummeted after a widespread crypto sell-off hit global markets. Prices plunged from well above the $3,000 threshold on Aug. 3 to less than $2,500 on Aug. 4. Currently, ETH trades at $2,454.89.
Ethereum price vs. bitcoin price
Since ethereum’s launch in 2015, there’s no question that bitcoin and ETH have been spectacular investments.
The past year’s enthusiasm for bitcoin spot ETFs has reversed the performance gap between the two major cryptos. The price of bitcoin is up 96% year over year, compared to a 30% gain for ethereum.
How to buy ethereum
You can buy ethereum on popular cryptocurrency exchanges like 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.
In addition, you can buy ethereum through leading payment apps Venmo and PayPal. Finally, ethereum can be bought directly by searching for a physical cryptocurrency ATM that sells ether.
How to store ethereum
To store, send and receive ETH, you need a crypto wallet.
Private keys protect these digital wallets. The person with the private key controls the wallet’s contents.
Ethereum wallets come in different 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, offering convenience. Cold wallets aren’t connected to the internet and are generally considered more secure.
Ethereum ETFs
Investors now have alternatives to buying ETH directly. Ethereum funds
Approved by the SEC in late 2023, ethereum futures ETFs are relatively new. They don’t invest directly. Rather, they hold futures contracts. The Bitwise Ethereum Strategy ETF (AETH), VanEck Ethereum Strategy ETF (EFUT) and ProShares Ether Strategy ETF (EETH) are the three leading ethereum futures ETFs.
Ether spot ETFs, which include the iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE), debuted in July 2024.
The approval of bitcoin and ether spot ETFs may indicate a softening toward some cryptos in their legal fights.
Frequently asked questions (FAQs)
Ethereum does not represent ownership of assets with tangible value and does not generate earnings, revenue or cash flow. ETH’s price is determined exclusively by supply and demand. If the popularity of the ethereum network continues to grow in the long term, demand for ethereum will likely grow over time.
No. Since the ethereum network upgraded from a proof-of-work model to a proof-of-stake model, ethereum mining is no longer necessary. But ethereum investors can still profit from the proof-of-stake system by staking ETH.
