What is the current price of ethereum?
The price of ethereum, or 1 ETH, was $2,425.89 as of 8 a.m. ET. The crypto’s highest intraday price in the past year was $4,088.00 on March 12, 2024.
Ethereum chart
*The return comparisons are as of 8 a.m. ET.
Although ethereum is not the first altcoin, it’s the most popular and successful. The cryptocurrency was launched in 2015. Its blockchain has generated tremendous growth and returns over the past nine years.
Ethereum price history
The chart pulls data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.
Ethereum’s 52-week intraday high was on March 12, 2024, trading at $4,088.00 per ETH. Its 52-week intraday low was $1,520.00 on Oct. 12, 2023.
The leading altcoin has shifted global financial markets and amassed a global market capitalization of $297.68 billion. ETH is currently up 50% year over year.
Ethereum market cap
Ethereum’s market cap is second to bitcoin’s. Bitcoin and ethereum make up 70% of the crypto market. The third-largest crypto is Solana. Its market cap is $86.26 billion.
Ethereum’s market cap is similar to that of major blue-chip stocks like Coca-Cola Co. (KO) at $302 billion and Merck & Co. (MRK) at $278 billion.
What is ethereum? And how does ethereum work?
Ethereum is a decentralized blockchain-based platform. It facilitates secure financial transactions. The network’s native token is ether.
Bitcoin also uses blockchain technology. But it operates differently. Ethereum has a programmable blockchain that offers users additional utility via smart contracts. Smart contracts run automatically when certain conditions are met.
Many users prefer ethereum’s decentralized network because it doesn’t rely on Big Tech companies. The network of small, private computers doesn’t use cloud servers owned by Google or Amazon.
Ethereum’s blockchain is used for decentralized finance, gaming, socializing and gambling. Nonfungible tokens, one-of-a-kind digital collectibles, also exist on the blockchain. NFTs represent ownership of unique digital assets, such as works of art, songs and videos.
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
Ethereum launched in July 2015. Not long after, it hit its all-time low of 42 cents in October 2015.
But that didn’t last long. Trading picked up sharply in 2017. ETH hit $1,000 for the first time in January 2018. Just two weeks later, it reached a new peak of $1,300.
CME Group’s announcement that it would offer bitcoin futures contracts drove the rally. But enthusiasm ebbed in 2018. That year saw the start of a bear market, often referred to as a “crypto winter.”
2020 brought another boom. The COVID-19 pandemic likely played a major role. The distribution of stimulus funds and low interest rates meant many Americans had money to speculate.
Ethereum prices 2021-2024
Ethereum nearly cracked $5,000 at the end of 2021, hitting $4,891.70 on Nov. 16, 2021. But interest rate increases gave investors alternatives, resulting in another cooling of the market. High-profile bankruptcies, including leading cryptocurrency exchange FTX in November 2022, also hit the industry. ETH fell under $900 that year.
But 2023 brought a new rally and more optimism from investors. That carried into 2024, with the Securities and Exchange Commission approving several bitcoin spot exchange-traded funds in January.
Ether spot ETFs started trading in the U.S. on July 23, 2024. The funds come from BlackRock, Fidelity and Grayscale, to name a few. They can be found on the New York Stock Exchange, Nasdaq and Chicago Board Options Exchange.
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 $2,425.89.
Bitcoin price vs. ethereum 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 127% year over year, compared to a 50% gain for ethereum.
How to buy ethereum online
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.
