Did you know Ethereum’s ICO in 2014 sold over 60 million Ether for just $0.311 each? This led to an amazing annual return of over 270%1. Now, one Ethereum (ETH) coin is worth $2,469.17. It has a 24-hour trading volume of $26.49 billion2.
Ethereum is now the second-largest cryptocurrency by market value. It’s worth a huge $297.21 billion2.
Exploring Ethereum means understanding its current value and past performance. We’ll look into Ethereum’s beginnings, special features, and what affects its price. This will help you make smart choices with your crypto investments.
Key Takeaways
- The current price of Ethereum (ETH) is $2,469.17 as of October 2, 2022.
- Ethereum has a 24-hour trading volume of $26.49 billion and a market capitalization of $297.21 billion.
- Ethereum’s circulating supply is 120.37 million ETH coins.
- The Ethereum network’s transition to proof-of-stake is expected to reduce energy consumption by 99.9%.
- Stakers on the Ethereum network are projected to earn between 8% and 12% annual percentage rate (APR).
What Is Ethereum (ETH)?
Ethereum is a special blockchain platform. It has its own cryptocurrency called Ether (ETH)3. It was made in 2015 by Vitalik Buterin, a programmer from Russia and Canada3.
Ethereum lets people make and use software in a new way. This software is called decentralized applications (DApps)3. All the fees for using the network are paid in ETH3.
Ethereum’s Origins and History
Vitalik Buterin wrote about Ethereum in 20133. The Ethereum Foundation started it on July 30, 20153. It was first called “Frontier.”3
In 2014, Ethereum had an Initial Coin Offering (ICO)4. It raised over 31,500 BTC, worth $18.3 million4. At that time, ether was $0.311, and more than 60 million ether were sold4.
Ethereum’s Purpose and Capabilities
Ethereum wants to be a global platform for apps that are free from censorship and fraud3. It has smart contracts, which help grow DeFi and dApps3. Users can stake 32 ETH to help validate transactions3.
Ethereum’s energy use has dropped by 99.95% thanks to Proof-of-Stake (PoS)3. Its roadmap, Ethereum 2.0, has three phases: Beacon Chain, The Merge, and Sharding3. Sharding makes it easier for anyone to become a validator3.
Vitalik Buterin says Ethereum needs better scaling, wallet security, and privacy3. Ethereum is the second-largest cryptocurrency3. You can see the live price of Ethereum (ETH) on Binance3.
What Makes Ethereum Unique?
Ethereum is a new kind of blockchain platform. It’s different from Bitcoin because it’s not just for money. Ethereum lets users create many kinds of apps, called dApps5.
These dApps run on a network of computers all over the world. This makes the network strong against censorship or downtime5.
Ethereum is special because it can make smart contracts. This has led to a lot of dApps, NFTs, and DeFi apps5. It’s open and programmable, attracting many developers and entrepreneurs6.
Ethereum uses a Proof-of-Stake (PoS) model, which saves energy. This is different from Bitcoin’s Proof-of-Work (PoW) model6. Also, Ethereum has no limit on its currency, ether (ETH), unlike Bitcoin’s 21 million coins6.
The Ethereum network has thousands of nodes. This makes it hard to fail because of one point6. Its smart contracts make it the top choice for developers6.
Ethereum Name Service (ENS)
What is ENS?
The Ethereum Name Service (ENS) is a system built on the Ethereum blockchain7. It makes long, complex addresses easier to use. Users can give names to their Ethereum addresses and other blockchain resources7.
This makes using Ethereum and other cryptocurrencies simpler. It makes the system more friendly for users7.
ENS Integration and Support
ENS works with many Ethereum apps and services8. This includes wallets, dApps, and web browsers8. It makes ENS domains easy to use across the Ethereum world8.
The ENS registry and resolver smart contracts keep it working well9. This ensures it stays decentralized and open to growth9.
The ENS world is always getting better. New developments and partnerships are adding more to what it can do9. As Ethereum grows, ENS will help make using cryptocurrencies easier and better for everyone789.
| Metric | Value |
|---|---|
| Current Price (ENS/USD) | $17.277 |
| Market Cap | $571.35M USD7 |
| 24-Hour Trading Volume | $77.84M USD7 |
| 24-Hour Price Change | -8.2%7 |
| Circulating Supply | 33.09M tokens7 |
| All-Time High Price | $85.6979 |
| 30-Day Price Change | 2.26%7 |
| 90-Day Price Change | -32.25%7 |
What is One Ethereum Coin Worth?
The price of Ethereum (ETH) is $2,469.17 as of October 2, 2022. It has a 24-hour trading volume of $26.49 billion10. Since 2014, Ethereum’s price has changed a lot, showing the ups and downs of the crypto market.
Current Ethereum (ETH) Price
Today, Ethereum’s price is $2,477.50, up 1.14% from yesterday11. But, it has dropped 3.68% in the last week and 34.20% since 2022 started11. Its market value is $294.65 billion, making it the second-largest crypto10.
Ethereum Price History
Ethereum’s price has seen big changes since it started. From 2014 to March 2017, its price stayed between $0.70 and $2110. Then, in 2017, the crypto market boomed, and ETH’s price first hit over $100, reaching $1,418 in January 201810.
It took about three years for Ethereum to hit its previous high again. This happened in 2021, with a record price of $4,868.810. Now, the price is $2,469.1710.
The Ethereum network has grown a lot since it started. Its price shows how much the project has grown and how people use it. It will be exciting to see how Ethereum’s value changes in the future.
Ethereum Killers
In the world of blockchain, “Ethereum killers” are getting a lot of attention. These platforms aim to beat Ethereum in many ways. Ethereum’s market cap is over $19012. This makes it a big player in the field. But, many competitors have come up, each with their own special features.
Solana (SOL) has a TVL of $248 million12. Cardano (ADA) was the top smart contract platform in 2021, beating Solana and Ethereum12. Tezos (XTZ) has better infrastructure than Ethereum, allowing for upgrades without hard forks12. Avalanche makes transactions final in just two seconds, faster than Ethereum12.
Even with these alternatives, Ethereum is still important in DeFi and NFT markets. Ethereum 2.0 is coming to fix some network problems13. This makes Ethereum a strong competitor to Ethereum killers. The battle for the top in blockchain is ongoing, with each platform trying to be better.
| Blockchain Platform | Market Cap | Total Value Locked (DeFi) |
|---|---|---|
| Cardano (ADA) | $31 billion13 | $300 million13 |
| Fantom (FTM) | $3 billion13 | $6.3 billion13 |
| Solana (SOL) | Over $248 billion12 | $6.66 billion13 |
| BNB Chain | $16 billion13 | N/A |
| Avalanche (AVAX) | $20.4 billion13 | $11.3 billion13 |
| Ethereum (ETH) | $190 billion12 | $133 billion13 |
The battle among Ethereum killers, competitors, and other blockchain platforms14 is getting fiercer. Each platform brings something new to the table. As blockchain grows, watching this race is exciting and full of surprises.
EIP-1559: Ethereum Fee Market Reform
The Ethereum London hard fork in August 2021 changed Ethereum’s fee system15. Ethereum Improvement Proposal 1559 (EIP-1559)16 brought in a new “base fee” system. This system makes fees more stable, but doesn’t stop prices from going up when it’s busy15.
Now, users can pay a “tip” or “priority fee” to miners for faster service15. This change fits with Ethereum 2.0’s goals of being better, safer, and more sustainable15. But, miners might earn less because of the base fee being burned15.
EIP-1559 is a big change for Ethereum’s fee market15. It aims to make fees more stable and improve user experience15. The Ethereum community is watching how EIP-1559 works out1615.
Ethereum Supply and Issuance
It’s important to know about Ethereum’s (ETH) supply and issuance. This helps us understand its value and investment potential. Right now, there are about 120,367,513 ETH coins in circulation17.
This number keeps growing as new ETH is added through block rewards.
How Many Ethereum Coins Are in Circulation?
Ethereum started with 72 million ETH in its “genesis block”18. Since then, miners get 2 ETH for each block they solve18. Unlike Bitcoin, Ethereum’s supply isn’t fixed. Its developers chose a flexible approach for its long-term health.
Ethereum’s Issuance Schedule
Ethereum’s block reward has changed over time. It started at 5 ETH, then dropped to 3 ETH in late 2017. It’s now at 2 ETH since early 201918.
The EIP-1559 upgrade in 2021 could make Ethereum deflationary. This is because some transaction fees are now burned, removing ETH from the market18.
The Ethereum network is always changing, and its supply is key to its price and adoption. It’s vital for investors and fans to keep up with Ethereum’s supply and issuance news1718.
Securing the Ethereum Network
The Ethereum network is very secure. It’s different from old systems because it’s not controlled by one place. This makes it hard to stop or slow down19. Ethereum’s security comes from how it works, changing from Proof-of-Work (PoW) to Proof-of-Stake (PoS)20.
In the PoS model, validators check transactions and add new blocks. To be a validator, you need to stake 32 Ether (ETH), Ethereum’s own money20. This not only keeps the network safe but also makes validators want to do the right thing20.
Ethereum’s switch to PoS also brought in “slashing.” This means validators can get in trouble for breaking rules. It makes the Ethereum network security better by stopping bad actions and keeping everyone in agreement20.
Users can also protect their Ethereum. Using hardware wallets like Ledger and Trezor is very safe. They keep your money offline and have extra security19. But, software wallets like MetaMask and Coinbase Wallet are easier to use but might be riskier19. Paper wallets, which keep your private keys offline, are also very safe and can’t be hacked19.
When picking an Ethereum wallet, think about its safety features, encryption, and two-factor authentication. This helps keep your Ethereum staking and money safe19.
| Wallet Type | Key Features | Security Considerations |
|---|---|---|
| Hardware Wallet | Offline storage, high-level encryption | Requires physical device, less convenient |
| Software Wallet | Ease of use, accessibility | Potential online threats, less secure than hardware |
| Paper Wallet | Offline storage, immune to online threats | Potential for physical loss or damage |
Knowing about the security steps and picking the right Ethereum wallet helps keep the Ethereum network security strong. It also keeps your Ethereum validators and Ethereum staking safe1920.
Where to Buy Ethereum (ETH)
Ethereum is the second-largest cryptocurrency and has gained a lot of attention worldwide21. It has a total value of over $230 billion21. Many people want to buy Ethereum. Luckily, there are many places to buy it, like exchanges, trading platforms, and peer-to-peer marketplaces.
Binance is a top exchange for buying Ethereum. It had a trading volume of $21.15 billion on May 28, 202422. Coinbase is also popular, being the top exchange in the United States22. These places make it easy to buy Ethereum, with prices starting at around $522.
There are also Ethereum-specific trading platforms. eToro, for example, offers over 20 cryptocurrencies, including Ethereum21. LocalEthereum lets users buy Ethereum directly from others, with more payment options.
When buying Ethereum, keeping your purchase safe is key. Exchanges charge fees of 1% to 1% for trading Ethereum21. It’s also important to store Ethereum safely. Cold wallets, which cost between $50 and $20021, are a good choice for extra security.
Ethereum is getting more popular, and there are many ways to buy it. By using trusted exchanges, platforms, and peer-to-peer markets, you can easily buy Ethereum. This lets you join the exciting world of decentralized finance and blockchain technology.
Conclusion
The Ethereum overview we’ve looked at shows its main features and potential. It’s the second-largest digital asset, with a price around $3,17323. Its market cap is $381,541,590,07923.
Ethereum is a leader in the crypto world. It has smart contract functionality. This has helped grow decentralized applications (dApps).
As Ethereum moves to Proof-of-Stake, it will get better. It will be more scalable, secure, and sustainable. This could make Ethereum more valuable.
The future of Ethereum looks bright. Prices could go up a lot in the next few years. For 2024, 2025, and 2030, prices might be $3,120 to $7,55423, $5,880 to $9,00323, and $12,297 to $42,63423, respectively.
As Ethereum grows, it’s key for investors and users to keep up. They should watch the latest news in this fast-changing field.
