What is the price of Ethereum today?
The price of Ethereum (1 ETH) is trading at $3,179.50 as of 8 a.m. ET. The highest intraday price Ethereum reached in the past year was $4,088.00 on March 12, 2024.
ethereum chart
The chart above captures data as of 8 a.m. ET each day and does not show intraday highs or lows.
Ethereum is not the first altcoin, but it is the most popular and successful. This cryptocurrency was born in his 2015 year. Its blockchain has generated tremendous growth and revenue over the past nine years.
Ethereum price history
*Return comparisons are as of 8 a.m. ET.
Ethereum’s 52-week intraday high was traded at $4,088.00 per ETH on March 12, 2024. The 52-week intraday low was $1,500.00 on August 17, 2023.
Major altcoins have transformed the global financial market, with a global market capitalization of $389.02 billion. ETH is currently up 71.38% year-over-year.
Ethereum market capitalization
Currently, Ethereum's market capitalization is $389.02 billion, making it second only to Bitcoin. Bitcoin and Ethereum account for his 69.57% of the total cryptocurrency market. The third largest cryptocurrency after Ethereum is BNB, with a market capitalization of just $90.61 billion.
The combined dominance of Bitcoin and Ethereum in the cryptocurrency market has fluctuated over the years. However, it has been on a steady upward trend since the second half of 2022.
Ethereum's market cap of $389.02 billion is slightly higher than some major blue-chip stocks, such as Home Depot (HD) at $333.1 billion and Johnson & Johnson (JNJ) at $359.35 billion.
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 run code such as smart contracts and decentralized applications. Smart contracts on the Ethereum network are software applications that automatically execute on the blockchain when predetermined conditions are met.
The decentralized nature of the Ethereum network allows developers to run their programs without relying on Big Tech companies or other third parties. Rather than running software on cloud servers in large data centers owned by Google, Ethereum users can leverage Ethereum's large network of small private computers to run their applications.
Applications on the Ethereum blockchain include gaming, socializing, gambling, and decentralized finance options. The Ethereum blockchain is also home to the world's most important non-fungible tokens. NFTs are unique digital works that represent ownership of digital assets such as works of art, songs, videos, etc.
Ethereum gas price
Ethereum gas is a fee that network users pay for processing transactions and using smart contracts on the network. Gasoline costs are similar to highway tolls. Users pay these fees to use the Ethereum blockchain.
The unit of measurement for gas prices is gwei. 1 gwei is equivalent to one billionth of 1 ETH.
Ethereum price history
Ethereum price 2015-2020
Like Bitcoin and other major cryptocurrencies, Ethereum had humble beginnings. Shortly after its founding in July 2015, ETH hit an all-time low of 42 cents in October 2015.
The popularity and trading volume of cryptocurrencies began to snowball in 2017. ETH price reached $1,000 for the first time in January 2018. The cryptocurrency eventually peaked at around $1,300 in less than two weeks.
CME Group's announcement to launch Bitcoin futures contracts was the driving force behind Ethereum's rally in 2017. These were the first cryptocurrency-related products offered by a regulated US financial institution.
Enthusiasm for cryptocurrencies subsided in 2018. That led to his one of several crypto winters over the past decade.
The next crypto boom began in 2020. His parabolic rise in ETH this time around was partially driven by government shutdowns of sports, casinos, and other leisure and entertainment options. Multiple government stimulus checks have given many Americans additional disposable income to purchase cryptocurrencies.
Ethereum price 2021-2024
Ethereum price reached $4,891.70 on November 16, 2021. However, rising interest rates dampened investor enthusiasm for risk assets in 2022. A series of layoffs and bankruptcies in the virtual currency industry weighed on virtual currency prices, leading to the bankruptcy of major virtual currency exchange FTX in November 2022. ETH price fell below $900 during the crypto winter of 2022.
Ethereum's rally resumed in 2023-2024 as investors became more optimistic about the US economic outlook. The approval of several Bitcoin spot ETFs by the Securities and Exchange Commission in January 2024 further boosted Ethereum prices. Many cryptocurrency enthusiasts see this as an encouraging sign towards the approval of the Ethereum Spot ETF.
Bitcoin price and Ethereum price
There is no doubt that Bitcoin and ETH have been great investments since Ethereum's launch in 2015.
Last year's enthusiasm for Bitcoin spot ETFs reversed the performance gap between the two major cryptocurrencies. Bitcoin price is up 106.09% year-on-year, while Ethereum price is up 43.64%.
How to buy Ethereum online
Ethereum can be purchased on popular cryptocurrency exchanges such as Binance, Coinbase, and Kraken. Ethereum is traded under the symbol ETH. There are also online brokerages that support cryptocurrency trading, such as Robinhood, Interactive Brokers, and Webull.
Additionally, you can also purchase Ethereum through major payment apps Venmo and PayPal. Finally, you can buy Ethereum directly by searching for physical crypto ATMs that sell Ethereum.
How to keep your Ethereum safe
Anyone who purchases Ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing banknotes in a physical wallet.
Private keys are required to send and receive cryptocurrencies in your digital wallet. The person who controls the wallet's private keys controls all cryptocurrencies 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 another device. Hot wallets are connected to the internet, while cold wallets are not. Although hot wallets are generally considered more convenient, cold wallets can be safer and more secure.
Ethereum ETF
In addition to buying Ethereum directly, you can also speculate on the Ethereum market indirectly through Ethereum funds.
The SEC has approved the first wave of Ethereum futures ETFs in late 2023. These ETFs do not invest directly in Ethereum, but instead hold Ethereum futures contracts. Major Ethereum futures ETFs include VanEck Ethereum Strategy ETF (EFUT), ProShares Ether Strategy ETF (EETH), and Bitwise Ethereum Strategy ETF (AETH).
The popular Grayscale Ethereum Trust (ETHE) tracks the price of ETH. However, Grayscale can only be traded over-the-counter in the U.S. until it receives approval to convert into an ETF. The conversion is subject to SEC approval.
Ultimately, Ethereum investors expect the SEC to approve the Spot Ethereum ETF. Spot ETFs invest directly in the underlying cryptocurrency rather than in futures contracts or other derivatives. Grayscale and BlackRock are one of several companies that have applied for SEC approval.
Frequently asked questions (FAQ)
Ethereum does not represent ownership of an asset of tangible value and does not generate income, income, or cash flow. The price of ETH is determined solely by supply and demand. If the Ethereum network continues to grow in popularity over time, demand for Ethereum is likely to increase over time.
Ethereum and other cryptocurrencies are highly volatile. This makes it difficult to predict how prices will move. Ethereum has performed very well overall since its launch in 2015. However, past performance does not guarantee future results.
