Ethereum price today: ETH is up 52.15% YTD
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BLUEPRINT
Updated 1:07 p.m. UTC March 26, 2024
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What is the price of ethereum today?
The price of ethereum, or 1 ETH, traded at $3,631.29, as of 8 a.m. ET.
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.
The leading altcoin has shifted global financial markets and amassed a global market capitalization of $436.03 billion. ETH is currently up 105.64% year over year.
Ethereum market cap
Today, ethereum's $436.03 billion market capitalization is second to bitcoin's. Bitcoin and ethereum represent 68.18% of the entire cryptocurrency market. Behind ethereum, the third-largest crypto is BNB, with a market cap of just $86.50 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 $436.03 billion is slightly more than some major blue-chip stocks, such as Home Depot (HD) at $386.77 billion and Johnson & Johnson (JNJ) at $374.07 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 options for gaming, socializing, gambling and decentralized finance. The ethereum blockchain is also home to the world's largest 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.
Ethereum's parabolic 2017 rally was partly driven by CME Group's announcement that it would launch bitcoin futures contracts late that year. They were the first crypto-currency 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 rounds of government stimulus checks also left many Americans with extra disposable income.
Ethereum prices 2021-2024
Ethereum prices reached $4,891 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. During the 2022 crypto winter, ETH prices dropped below $900.
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 crytpo enthusiasts see this as an encouraging sign for the approval of ethereum spot ETFs. Ethereum prices soared to 4,088.00 in March 2024.
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 153.26% year over year, compared to a 105.64% 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 on 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
When you buy ethereum directly, you must store your 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 are hoping that the SEC approves 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 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.
Ethereum and other cryptocurrencies are extremely volatile. That makes it difficult to predict how its price will behave. Ethereum has performed extremely well overall since its launch in 2015. But past performance is no guarantee of future results.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
