Current Price of Ethereum
As of 8 a.m. ET, the price of ethereum, or 1 ETH, is trading at $3,159.58. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024.
Ethereum Chart
Check out the chart below to see the current trends in Ethereum prices.
Ethereum Prices
Ethereum has seen significant growth and returns over the past nine years. Its 52-week intraday high was $4,088.00 on March 12, 2024, while its 52-week intraday low was $1,500.00 on Aug. 17, 2023. The cryptocurrency has a market capitalization of $378.92 billion and is currently up 65% year over year.
Ethereum Market Cap
Today, ethereum’s market capitalization stands at $378.92 billion, making it the second-largest cryptocurrency after bitcoin. Together, bitcoin and ethereum represent 71% of the entire cryptocurrency market.
What is Ethereum?
Ethereum is a blockchain-based network that facilitates secure, decentralized financial transactions. Its native cryptocurrency is ether. Unlike bitcoin, ethereum’s programmable blockchain allows users to securely verify and execute code, including smart contracts and decentralized applications.
Ethereum Gas Price
Ethereum gas is the fee network users pay to process transactions or use smart contracts on the network. Gas fees are similar to highway tolls, and the unit of measurement for gas fees is gwei.
Ethereum Price History
Ethereum has had a volatile price history, with highs and lows in different years. In 2015, ETH hit its all-time low of 42 cents, while in 2021, prices reached as high as $4,891.70. The cryptocurrency has seen multiple boom and bust cycles over the years.
Bitcoin Price vs. Ethereum Price
Since ethereum’s launch in 2015, both bitcoin and ETH have been good investments. However, the recent enthusiasm for bitcoin spot ETFs has led to a performance gap between the two major cryptocurrencies.
How to Buy and Store Ethereum
You can buy ethereum on popular cryptocurrency exchanges or through online brokerages that support cryptocurrency trading. Additionally, ethereum can be bought through payment apps like Venmo and PayPal or at physical cryptocurrency ATMs. Storing ethereum requires a cryptocurrency wallet with private keys for security.
Ethereum ETFs
In addition to buying ethereum directly, you can also speculate on the ethereum market through ethereum funds. The SEC approved the first wave of ethereum futures ETFs in late 2023.
These ETFs do not directly invest in ethereum but instead hold ethereum futures contracts. The top ethereum futures ETFs are the VanEck Ethereum Strategy ETF (EFUT), the ProShares Ether Strategy ETF (EETH), and the Bitwise Ethereum Strategy ETF (AETH).
The Grayscale Ethereum Trust (ETHE) is a popular option that tracks the price of ETH and currently holds around $11 billion in assets.
In May 2024, the SEC made a significant decision allowing ETFs to buy and hold ethereum, following a similar decision for bitcoin ETFs in January 2024 regarding spot holdings. This approval of ether ETFs indicates a shift in the legal landscape towards some cryptocurrencies.
FAQs:
How is ethereum’s price determined?
Ethereum’s price is determined solely by supply and demand, as it does not represent ownership of assets with tangible value or generate earnings. If the popularity of the ethereum network continues to grow, demand for ethereum is likely to increase over time.
Can you still mine ethereum?
No, ethereum mining is no longer necessary as the network has transitioned from a proof-of-work model to a proof-of-stake model. However, ethereum investors can still participate in the proof-of-stake system by staking ETH.