What is the current price of ethereum?
The price of ethereum, or 1 ETH, was $2,628.52 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 reached a 52-week intraday high of $4,088.00 on March 12, 2024, and a 52-week intraday low of $1,520.00 on Oct. 12, 2023.
The leading altcoin has a global market capitalization of $316.40 billion. Year over year, ETH has increased 52%.
Ethereum market cap
Ethereum’s market capitalization of $316.40 billion is second to bitcoin’s. It’s similar to some major blue-chip stocks. These include the Coca-Cola Co. (KO) at $309 billion and Merck & Co. (MRK) at $287 billion.
ETH is a popular choice among crypto investors. Together with bitcoin, it makes up 70% of the crypto market.
What is ethereum?
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
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 $2,628.52.
Ethereum price vs. bitcoin price
Ethereum launched in 2015. Both ethereum and bitcoin have been spectacular investments since then.
The SEC’s approval of bitcoin spot ETFs in early 2024 has reversed the performance gap between the two cryptos. BTC is up 126% and ETH is up 52% year over year.
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 safely store ethereum
To store ethereum, you must have a crypto wallet. This functions like a digital version of a physical wallet used for paper money.
You have a private key to ensure that only you can access what’s inside. The owner of a wallet’s private key controls its contents.
An ethereum wallet can be a hardware wallet resembling a USB stick. Or it can be a software wallet app storing ETH on a smartphone or another device. A wallet is considered hot if it’s connected to the internet and cold if it isn’t. A cold wallet offers more safety and security but less convenience.
Ethereum ETFs
Ethereum funds allow investors to speculate on the ethereum market without buying ethereum directly.
The first wave of ethereum futures ETFs dropped in late 2023. They hold futures contracts rather than investing in ethereum directly. Leading options include the ProShares Ether Strategy ETF (EETH), Bitwise Ethereum Strategy ETF (AETH) and VanEck Ethereum Strategy ETF (EFUT).
Ether spot ETFs debuted in July 2024. They include the Grayscale ethereum trust (ETHE).
Fidelity ethereum fund (FETH) and iShares ethereum trust (ETHA). Their approval 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.
Ethereum is extremely volatile, much like other cryptocurrencies. Predicting whether it will go up or down is difficult. While ETH has performed well since its inception, there’s no guarantee that performance will continue. Investors should be ready for big swings and the potential for big losses.