What is the current price of ethereum?
The price of ethereum, or 1 ETH, traded at $2,818.56, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024.
Ethereum price 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 $4,088.00 on March 12, 2024. Its 52-week intraday low was $1,905.69 on Nov. 17, 2023.
The leading altcoin has shifted global financial markets and amassed a market capitalization of $353.62 billion. It’s up 47% year over year.
Ethereum market cap
Today, ethereum’s $353.62 billion market capitalization is second to bitcoin’s. Together, bitcoin and ethereum represent 72% of the entire cryptocurrency market. While ethereum is the leading altcoin, other altcoins have relatively high market capitalizations. These include solana with a market cap of $119.23 billion, XRP at $55.26 billion and everyone’s favorite “meme” coin DOGE at $29.19 billion.
Bitcoin and ethereum’s combined crypto market dominance has fluctuated over the years. But it has trended steadily higher since late 2022.
Ethereum’s market cap of $353.62 billion is similar to some major blue-chip stocks, such as the Coca-Cola Co. (KO) at $275 billion and Merck & Co. (MRK) at $257 billion.
What is ethereum?
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
The ethereum network isn’t free to use. Users must pay gas fees, similar to highway tolls, which support its operation. Gas fees fluctuate based on supply and demand for transactions.
Gas fees are expressed as gwei. One gwei represents one billionth of one ether.
Ethereum price history
Ethereum prices 2015-2020
Ethereum launched in July 2015 and hit its all-time low soon after. In October 2015, ETH traded for just 42 cents.
Cryptocurrency rose in popularity in 2017. In January 2018, ETH reached $1,000 for the first time. It peaked at about $1,300 a couple of weeks later.
The announcement of bitcoin futures contracts from CME Group helped drive that 2017 surge. But when enthusiasm waned in 2018, prices dropped. That led to a crypto winter.
Prices rose again in 2020. This time, COVID-19 pandemic shutdowns likely gave ethereum a boost. Thanks to government stimulus checks and low interest rates, many Americans put their cash into crypto.
Ethereum prices 2021-2024
Ethereum prices neared $5,000 in late 2021, reaching $4,891.70 on Nov. 16, 2021. But rising interest rates cooled crypto markets in 2022. High-profile bankruptcies also hit the industry, most notably crypto exchange FTX in November 2022. The price of ETH fell below $900 that year.
But the crypto bounced back. Prices have been on the rise in 2023 and 2024. The Securities and Exchange Commission approved several bitcoin spot exchange-traded funds in January 2024.
The first U.S. ether spot ETFs began trading on July 23, 2024. The funds come from Grayscale, Fidelity, BlackRock and more. They can be found on the Nasdaq, New York Stock Exchange, 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 $2,818.56.
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 106% year over year, compared to a 47% gain for ethereum.
How to buy ethereum online
Ethereum is available on major crypto exchanges such as Binance, Coinbase and Kraken. It trades under the ticker symbol ETH. Select online brokerages also let you trade crypto, including Robinhood, Interactive Brokers and Webull.
You can buy ethereum using popular payment apps like Venmo and PayPal. And you can purchase it directly through physical cryptocurrency ATMs.
How to safely store ethereum
Anyone buying ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing paper money in a physical wallet.
Private keys are needed to send or receive cryptocurrency in a digital wallet. The person who controls a wallet’s private keys controls all the cryptocurrency associated with the wallet.
Ethereum wallets can be hardware wallets resembling USB sticks or software wallet apps that store ETH on a smartphone or another 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 ETFs
In addition to buying ethereum directly, you can indirectly speculate on the ethereum market via ethereum funds.
The SEC approved the first wave of ethereum futures ETFs in late 2023. These ETFs don’t invest in ethereum directly but instead hold ethereum futures contracts. Leading ethereum futures ETFs include the VanEck Ethereum Strategy ETF (EFUT), the ProShares Ether Strategy ETF (EETH) and the Bitwise Ethereum Strategy ETF (AETH).
In July 2024, ether spot ETFs made their debut. These include the iShares Ethereum Trust (ETHA), the Fidelity Ethereum Fund (FETH) and the Grayscale Ethereum Trust (ETHE).
A similar decision was made for bitcoin ETFs in January 2024 in terms of spot holdings. The approval of spot ETFs indicates a softening toward some cryptos in their legal fights.
Frequently asked questions (FAQs)
Ethereum reached its all-time intraday high of $4,891.70 on Nov. 16, 2021.
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.
