etheruem price
Ethereum Price Overview
As of November 15, 2024, the price of Ethereum (ETH) is $3,027.65. Over the past 24 hours, the price has decreased by 3.48%. Ethereum's market cap stands at $364.59 billion, with a circulating supply of 120.42 million ETH (Coindesk).
Trading Volume and Market Activity
Ethereum's 24-hour trading volume is approximately $31.65 billion. This high trading volume indicates active market participation and liquidity, which are crucial for price stability and investor confidence (CoinMarketCap).
Historical Price Trends
Ethereum has experienced significant price fluctuations since its inception. Initially launched in 2014 at $0.31 per coin, Ethereum's price remained relatively stable until the 2017 crypto bull market, where it surged past $100 for the first time. By January 2018, Ethereum reached a peak of $1,418 before experiencing a sharp decline. The price hit a new all-time high of $4,379 between February and May 2021 (Coindesk).
Ethereum's Unique Features
Smart Contracts
Ethereum is renowned for its smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These contracts automatically execute transactions when predetermined conditions are met, forming the backbone of decentralized applications (dapps) on the Ethereum network (Coindesk).
Network Upgrades
Ethereum has undergone several network upgrades to improve its functionality and efficiency. Notable upgrades include the London hard fork in August 2021, which introduced the Ethereum Improvement Protocol (EIP-1559). This upgrade implemented a fee-burning mechanism, reducing the circulating supply of Ether and potentially increasing its value over time (CoinMarketCap).
Ethereum's Role in the Crypto Ecosystem
Ethereum serves as a platform for numerous other cryptocurrencies and decentralized applications. Its open-source blockchain system allows developers to create and deploy their own dapps, making it a pivotal player in the cryptocurrency ecosystem (CoinMarketCap).
Conclusion
Ethereum remains a dominant force in the cryptocurrency market, with a robust infrastructure supporting a wide range of applications. Despite recent price fluctuations, its innovative features and continuous development make it a key asset in the digital currency landscape.