Ethereum Price Index - Real-time price graph
Ethereum Price Live Performance Indicators
Ethereum Price Summary
For as long as possible, Ethereum (ETH) has dominated the second position in the cryptocurrency space. It is usually always the second coin mentioned after Bitcoin. Ether’s price is currently down by 46% from its all-time high of $4,356 achieved on 12 May 2021. In recent weeks, the second-largest cryptocurrency by market cap has performed excellently and stayed above the $2,000 price region. The sustained performance around the $2k region has led some analysts to believe that it could rally towards its all-time high again if the current bullish cycle is sustained.
Despite Ether being down by 46% from its all-time high, it is still one of the top performers so far in 2021. Ether began the year trading at $730 per coin. Its price is now up by nearly 300%, with Ether trading above $2,300 at the time of this report. The decline towards the $2,000 levels came after reaching an all-time high of $4,356 on12 May.
The cryptocurrency market has always been volatile, and it is this volatility that creates profit-making opportunities for millions of traders. However, it is crucial to be updated with the price of Ether and other cryptocurrencies as it allows you to make better and more informed investment decisions.
Ethereum Price History
Ethereum can be considered a late entrant into the cryptocurrency space since Bitcoin was around for five years before it was developed. The cryptocurrency project was proposed by Vitalik Buterin in 2013, and its development was crowdfunded in 2014, with the first live release of Ethereum known as Frontier launched the following year.
2016 was the year Ether began to kick off, with numerous upgrades to the blockchain attracting people to the project. ETH was trading at $1.24 when Frontier was launched in 2015, but its price rose massively by 2016, with several upgrades such as the DAO fork, Homestead and the Tangerine whistle improving certain aspects of the network.
The Byzantium upgrade of 2017 was launched at a time when the cryptocurrency market was on a bull run, with ETH ultimately reaching a then all-time high of $1,448 on 12 January 2018. However, the cryptocurrency embarked on a bearish cycle for the next two years, and ETH was majorly stuck around the $100 region.
Ether’s use case in 2017 grew massively, thanks to the rise of initial coin offerings (ICOs). Ethereum was the preferred network of several cryptocurrency tokens and decentralised applications.
The Ethereum community decided to switch to the Proof of Stake (PoS) protocol from its current Proof of Work protocol. This is to boost the network scalability and ensure that it handles more transactions.
The market rally resumed in 2020, with Ether finally crossing the $1,000 mark again in January 2021. Since then, its price rose by over 400% to trade above $4,000 before the cryptocurrency consolidated lower. Ethereum is home to numerous decentralised finance (DeFi) projects and other cryptocurrency innovations. All these contributed to its price performance in recent years.
Ethereum Price Prediction
We mentioned earlier that cryptocurrencies are volatile, and as such, you have to look at Ether’s price prediction from various angles. The price could swing upwards or downwards in an instant, depending on the market conditions. Hence, we advise integrating risk management when conducting your probability-based predictions.
The major driver of Ethereum would be its move to the Proof of Stake protocol. For a long time, Ethereum has been plagued with a lack of scalability, limiting the functions of some decentralised platforms on the network. The developers are already working on the upgrade, and its completion could affect Ether’s price in the coming months or years.
The Ethereum network is home to some of the leading decentralised exchanges like Uniswap and DeFi projects. With the DeFi sector gaining more attention, more projects could be rolled out in the space, and Ethereum would be the prime network that accommodates some of them. If that happens, Ether’s price over the coming months and years could be positive.
Ether has been able to stay above the $1,500 support region over the past few weeks. It is now trading above $2,000, suggesting that the price could have bottomed out. The numerous developments coming to the Ethereum blockchain create the optimism that ETH’s price could soar higher for the remainder of 2021 and 2022.
Expert Tip on the Price of ETH“ Since Ether was founded in 2014, its price has gone up by 7,551.9%. This is a huge return, especially for the early investors. After Bitcoin, Ethereum can be considered as the cryptocurrency getting the most attention. We now see more institutional adoption of Ether, with exchange-traded funds (ETFs) being already launched in Canada and Brazil. To look at Ether’s price, you should consider both technical and fundamental analyses. Experts deploy various tools and indicators such as the FIB levels, the MACD (Moving Average Convergence Divergence) and the RSI (Relative Strength Index) to speculate on ETH price. ”- Hassan Maishera
Vitalik Buterin spent a few years in the cryptocurrency space and realised that there needs to be a blockchain that, similar to Bitcoin, provides more than just financial services. The project raised $18 million in a crowdfunding campaign, and the token was launched in 2015. Buterin designed the Ethereum blockchain to be the solution for use cases that don’t have a specialised system to use.
Since its creation, the Ethereum blockchain has become home to numerous innovations. Most tokens were created on the Ethereum blockchain, especially during the ICO boom of 2017 and 2018. It is now the home of several decentralised exchange and financial protocols. Non-fungible tokens (NFTs) are also deployed on the Ethereum network. The move to the PoS protocol is set to solve some of Ethereum’s underlying issues, and that could impact its performance in the coming years.
Ethereum Value Compared to Other Cryptocurrencies
Frequently Asked Questions
Ether’s price is up by nearly 200% despite the recent bearish cycle. It began 2021 trading above $700 and is now trading close to $2,300, after reaching an all-time high above the $4,300 region.
It is hard to predict the best time for entry when it comes to cryptocurrencies. Ether, like other cryptos, is volatile, and this feature provides investors with unique opportunities. We encourage conducting technical and fundamental analysis to get a general sense of how the market is performing at a certain period and make your decisions based on those findings.
Yes. ETH is a volatile cryptocurrency, similar to Bitcoin. Ether’s price is down by 46% from an all-time high it achieved in May. This was after it surged by roughly 500% within five months.
Yes. Ether investors usually hold the cryptocurrency for the long term while traders take advantage of the short-term price movement to make smaller but regular profits.
Although they are both cryptocurrencies, Bitcoin and Ether serve different functions in the cryptocurrency market. Ethereum’s blockchain is designed to serve a role similar to the internet, hosting a wide range of cryptocurrency projects. Ethereum is the home of several decentralised exchanges, DeFi protocols, smart contracts, decentralised apps and tokens.