Summary:
Ethereum price down 4.12% today at $2,307.67
52-week high of $4,088.00 reached on March 12, 2024
Market cap of $277.70 billion, up 42% year over year
Ethereum supports smart contracts and decentralized finance
Investors can buy Ethereum via Binance, Coinbase, and PayPal
Current Ethereum Price
The price of Ethereum (ETH) is currently trading at $2,307.67 as of 8 a.m. ET, reflecting a 4.12% decline today and a 3% drop year to date.
Ethereum Price Chart
The return comparisons are as of 8 a.m. ET. Ethereum, launched in 2015, has become the most popular altcoin, with a 52-week intraday high of $4,088.00 on March 12, 2024, and a 52-week low of $1,520.00 on October 12, 2023. Its market capitalization currently stands at $277.70 billion, up 42% year over year.
Ethereum Market Cap
Ethereum's market cap is second only to Bitcoin, and together, they represent 70% of the entire cryptocurrency market. Noteworthy competitors include Solana at $77.12 billion, XRP at $57.10 billion, and DOGE at $14.84 billion.
What is Ethereum?
Ethereum operates as a blockchain-based network facilitating secure, decentralized financial transactions, with its native cryptocurrency being Ether. Its programmable blockchain allows users to verify and execute code via smart contracts. Unlike Bitcoin, Ethereum supports a wide range of applications, including decentralized finance and non-fungible tokens (NFTs).
Ethereum Gas Prices
Users pay gas fees to process transactions or utilize smart contracts, measured in gwei, which represents one billionth of one ETH.
Historical Price Trends
- 2015-2020: Launched in July 2015, Ethereum saw its all-time low of 42 cents in October 2015. It reached $1,000 for the first time in January 2018.
- 2021-2024: Ethereum peaked at $4,891.70 in November 2021 before facing declines due to market conditions. In 2023, optimism returned, leading to a rally into 2024, despite a sharp drop in August 2024.
Comparison with Bitcoin
Since its inception, both Ethereum and Bitcoin have exhibited significant growth. Ethereum has increased 42% year over year, while Bitcoin has seen a 121% gain.
How to Buy Ethereum
You can purchase ETH on various crypto exchanges like Binance, Coinbase, and Kraken, as well as through payment apps like Venmo and PayPal.
Storing Ethereum
To store ETH, you must use a cryptocurrency wallet, which can be hardware or software-based.
Ethereum ETFs
Investors can also speculate on Ethereum through ETFs. The SEC approved several Ethereum futures ETFs in late 2023, allowing indirect investment.
FAQs
- Does Ethereum generate earnings? No, its price is determined entirely by supply and demand.
- Is mining still necessary? No, Ethereum has transitioned to a proof-of-stake model, eliminating the need for mining but allowing staking.
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