What is the current price of ethereum?
The price of ethereum, or 1 ETH, was $2,470.21 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 price 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 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 $1,776.80 on Nov. 3, 2023.
The leading altcoin has shifted global financial markets and amassed a global market capitalization of $303.98 billion. ETH is currently up 38% year over year.
Ethereum market cap
Ethereum’s market cap is second to bitcoin’s. Bitcoin and ethereum make up 71% of the crypto market. The third-largest crypto is Solana. Its market cap is $103.85 billion.
Ethereum’s market cap is similar to that of major blue-chip stocks like Coca-Cola Co. (KO) at $293 billion and Merck & Co. (MRK) at $270 billion.
What is ethereum? And how does ethereum work?
Ethereum is a blockchain-based network that facilitates secure, decentralized financial transactions. Its native crypto is ether.
Its programmable blockchain lets users securely verify and execute code using smart contracts and decentralized applications. This differs from bitcoin, which has a limited capacity to run smart contracts. Smart contracts are software applications that run automatically on the blockchain when specific conditions are met.
By operating on a decentralized network, ethereum helps users avoid third parties. This could appeal to you if you don’t want to rely on Big Tech companies. Instead of running software on Google’s servers, for example, you can leverage ethereum’s network.
It can run a variety of applications for socializing, gaming, gambling and decentralized finance. The network also houses nonfungible tokens, which represent ownership of unique digital assets.
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.
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 $2,470.21.
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 101% year over year, compared to a 38% gain for ethereum.
How to buy ethereum
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
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.
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.