What is Ethereum (ETH)?
Ethereum (ETH) is an open-source, decentralized computing platform built on Proof-of-Stake consensus, renowned for its smart contract functionality. The native cryptocurrency of the Ethereum network, Ether, facilitates transactions and compensates network participants for computational tasks. Unlike Bitcoin or Litecoin, Ethereum serves primarily as a programmable blockchain platform rather than just a payment system.
Key features:
- Smart contract execution
- Decentralized application (dApp) development
- ERC-20 token standard for creating interoperable cryptocurrencies
Ethereum Price History & Market Performance
Launch and Early Growth (2015-2016)
Ethereum launched on July 30, 2015, with Ether initially trading between $1-$3. By August 2015, prices stabilized at $1** until January 2016, when a steady rally began—peaking at **$18 by June 2016.
The DAO Hack and Aftermath
In June 2016, a high-profile exploit drained millions in ETH from The DAO crowdfund, causing prices to plummet to $11. The incident sparked community debates over protocol changes, influencing price volatility until early 2017.
All-Time High and Current Status
- ATH: $4,860 (November 10, 2021)
- Current Price: $2,571 (+6.07% in 24h)
- Market Cap: $310.36 Billion
- Circulating Supply: 120.72 Million ETH (no max supply)
👉 Track real-time ETH price movements
How to Buy Ethereum
1. Peer-to-Peer (P2P) Transactions
- Pros: Fast, direct transfers
- Cons: Requires trust between parties
- Best for: Experienced users with trusted ETH holders
2. Cryptocurrency Exchanges
Steps:
- Sign up on a reputable exchange.
- Deposit fiat (USD, EUR, etc.).
- Buy ETH at market/limit price.
3. Crypto Swaps
- Convert other cryptocurrencies (e.g., BTC, USDT) to ETH via decentralized platforms like Uniswap or centralized exchanges.
Ethereum Market Data (Markdown Table)
| Metric | Value |
|---|---|
| Current Price | $2,571 |
| 24h Change | +6.07% |
| Market Cap | $310.36B |
| 24h Trading Volume | $9.67B |
| Circulating Supply | 120.72M ETH |
| All-Time High | $4,860 (Nov 2021) |
FAQs About Ethereum
1. What drives Ethereum’s price?
- Network usage, DeFi adoption, and upgrades (e.g., Ethereum 2.0) influence ETH demand.
2. Is Ethereum a good investment in 2024?
- While past performance isn’t indicative of future results, ETH’s utility in dApps and NFTs positions it as a long-term contender.
3. How do I store Ethereum safely?
- Use hardware wallets (Ledger, Trezor) or non-custodial software wallets (MetaMask).
4. What’s the difference between Ethereum and Bitcoin?
- Bitcoin is digital gold; Ethereum is a programmable blockchain for decentralized applications.
5. Can I mine Ethereum?
- Since The Merge (September 2022), Ethereum shifted from Proof-of-Work to Proof-of-Stake, eliminating mining.
Key Takeaways
- Ethereum’s price reflects its utility as a dApp platform.
- Market volatility is common—DYOR (Do Your Own Research).
- Use trusted exchanges to buy ETH securely.
For live updates, visit ETH price tracker.