Ethereum price today: ETH is up 38.61% year to date

Ethereum price today: ETH is up 38.61% year to date

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What is the price of ethereum today?

The price of ethereum, or 1 ETH, traded at $3,308.20, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024.

Ethereum price chart

The chart above is pulling data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

Even though 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 return comparisons are as of 8 a.m. ET.

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 $398.03 billion. ETH is currently up 77.34% year over year.

Ethereum market cap

Today, ethereum’s $398.03 billion market capitalization is second to bitcoin’s. Bitcoin and ethereum represent 67.95% of the entire cryptocurrency market. Behind ethereum, the third-largest crypto is Solana, with a market cap of just $83.80 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 $398.03 billion is slightly more than some major blue-chip stocks, such as Home Depot (HD) at $364.72 billion and Johnson & Johnson (JNJ) at $380.22 billion.

What is ethereum?

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. Rather than running software on cloud servers housed in massive data centers owned by Google, ethereum users can run applications by leveraging ethereum’s large network of small, private computers.

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 non-fungible tokens. NFTs are unique digital creations representing ownership of digital property, such as a work of art, song or video.

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.

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. Many crypto enthusiasts see this as an encouraging sign for the approval of ethereum spot ETFs.

Bitcoin price vs. ethereum 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 133.55% year over year, compared to a 77.34% gain for ethereum.

How to buy ethereum

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 store ethereum

Anyone buying ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing paper money in a physical wallet.

The private keys are needed to send or receive cryptocurrency in a digital wallet. A person who controls a wallet’s private keys controls all the cryptocurrency associated with the wallet.

Ethereum wallets can be hardware wallets resembling USB sticks or software wallet apps that store ETH on a smartphone or another device. Hot wallets are connected to the internet, while cold wallets are not. Hot wallets are generally considered more convenient, but cold wallets can be safer and more secure.

Ethereum ETFs

In addition to buying ethereum directly, you can indirectly speculate on the ethereum market via ethereum funds.

The SEC approved the first wave of ethereum futures ETFs in late 2023. These ETFs don’t invest in ethereum directly but instead hold ethereum futures contracts. 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 popular Grayscale Ethereum Trust (ETHE) tracks the price of ETH. But Grayscale can only trade over the counter in the U.S. until it receives approval to convert into an ETF. That conversion is contingent on the SEC’s approval.

Ultimately, ethereum investors hope that the SEC will approve spot ethereum ETFs. Spot ETFs invest directly in the underlying cryptocurrency rather than futures contracts or other derivatives. Grayscale and BlackRock are among several companies that have applied for SEC approval.

Frequently asked questions (FAQs)

Ethereum’s all-time intraday high was $4,891.70, which it reached on Nov. 16, 2021.

Ethereum and other cryptocurrencies are extremely volatile. That makes it difficult to predict how its price will behave. Ethereum has performed exceptionally well overall since its launch in 2015. But past performance is no guarantee of future results.

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