Current Price of Ethereum
As of 8 a.m. ET, the price of ethereum, or 1 ETH, is trading at $3,339.36. 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 above is pulling 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 $1,500.00 on Aug. 17, 2023.
The leading altcoin has shifted global financial markets and amassed a global market capitalization of $401.75 billion. ETH is currently up 73% year over year.
Ethereum Market Cap
Today, ethereum’s $401.75 billion market capitalization is second to bitcoin’s. Together, bitcoin and ethereum represent 71% of the entire cryptocurrency market. While ethereum is the leading altcoin, other altcoins have relatively high market capitalizations. A few include solana with a market cap of $88.06 billion, XRP at $53.65 billion and DOGE at $17.01 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 $401.75 billion is similar to some major blue-chip stocks, such as UnitedHealthcare Group (UNH) at $464.21 billion and Mastercard (MA) at $405.70 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 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. 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).
Ethereum Gas Price
Ethereum gas is the fee network users pay to process transactions or use smart contracts on the network. Gas fees are akin to highway tolls. Users pay these fees to use the ethereum blockchain.
The unit of measurement for gas fees is gwei. One gwei equals one billionth of one ETH.
Ethereum Price History
Ethereum Prices 2015-2020
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 next crypto boom began in 2020, partly driven by government shutdowns of sports, casinos, and other leisure and entertainment options.
Ethereum Prices 2021-2024
Ethereum prices reached $4,891.70 on Nov. 16, 2021. Rising interest rates cooled investor enthusiasm for risk assets in 2022. The ethereum rally resumed in 2023 and into 2024 as investors grew more optimistic about the U.S. economic outlook.
Bitcoin Price vs. Ethereum Price
The price of bitcoin is up 106% year over year, compared to a 73% gain for ethereum.
How to Buy Ethereum
You can buy ethereum on popular cryptocurrency exchanges like Binance, Coinbase and Kraken. There are also online brokerages that support cryptocurrency trading, such as Robinhood, Interactive Brokers and Webull. Ethereum can also be bought through leading payment apps Venmo and PayPal.
How to Store Ethereum
Anyone buying ethereum directly must store their ETH in a cryptocurrency wallet. Ethereum wallets can be hardware wallets resembling USB sticks or software wallet apps that store ETH on a smartphone or another device.
While hot wallets are often seen as more convenient, cold wallets are considered to be safer and more secure. Cold wallets, which are not connected to the internet, provide an extra layer of protection against hacking and theft compared to hot wallets, which are online and more susceptible to cyber attacks.
In addition to directly purchasing ethereum, investors 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 invest directly in ethereum but instead hold ethereum futures contracts. Some leading ethereum futures ETFs include 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 for tracking the price of ETH, currently holding about $11 billion in assets. In May 2024, the SEC made a significant decision to allow ETFs to buy and hold ethereum directly, indicating a shift towards accepting certain cryptocurrencies in the legal landscape.
When it comes to determining ethereum’s price, it is important to note that ethereum does not represent ownership of tangible assets or generate earnings, revenue, or cash flow. The price of ETH is primarily influenced by supply and demand. If the popularity of the ethereum network continues to grow, the demand for ethereum is likely to increase over time.
As for mining ethereum, it is no longer possible since the network transitioned from a proof-of-work model to a proof-of-stake model. However, investors can still participate in the proof-of-stake system by staking their ETH tokens to earn rewards. This shift in the ethereum mining process highlights the evolving nature of the cryptocurrency market and the various ways investors can engage with the technology.