Ethereum (ETH) price today trades at $2,507.8 as of 6 PM. Ether prices hit a daily high of $2,559.3 today after rising -0.66% on October 26.
Ethereum Price is Up Today: Why?
The Ethereum price trades at $2,544 after recovering nearly 4% from the daily low of $2,460. This uptick is in line with Bitcoin’s 1.60% recovery bounce to $68,140. If this trend keeps up the New York open could propel the value of ETH higher after sliding lower all week.
Ethereum Price Charts
*Ethereum price updated as of 6 PM.
Ethereum’s innovative smart contract technology has made it a standout altcoin since its inception in 2015. Continuous major network upgrades ensure Ethereum stays ahead in smart contract innovation. The latest upgrade, Cancun, launched on March 13, 2024.
Ethereum Price History
The year-to-date (YTD) performance of ETH is 8.17%, after dropping form double digits at the start of the week. As of October 26, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 299 days, would be worth nearly $10,817. Regardless of Ethereum’s lackluster performance its market capitalization stands at $301.6 billion.
Ethereum Market Cap: The Second-Largest Cryptocurrency
Ethereum ranks second in market capitalization, valued at $301.6 billion, after Bitcoin’s $1.15 trillion. Together, they comprise 83% of the crypto market.
Since its all-time high of $571 billion in November 2021, Ethereum’s value has decreased by half. However, Ethereum maintains a strong lead over other popular cryptocurrencies:
- Solana (SOL): $63 billion
- Ripple (XRP): $30 billion
Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $19.6 billion.
Ethereum Trading Volume
The 24-hour trading volume of Ethereum is $19.6 billion. Binance is the largest contributer to this trading volume – about 11% is contributed by spot trading and nearly 40% from futures trading. Exchanges like OKX, Bitget, ByBit follow Binance.
Ethereum Blockchain Upgrade to PoS
The London hard fork is a significant Ethereum blockchain upgrade. It changed the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Ethereum co-founder Vitalik Buterin recently shared his thoughts on X (formerly Twitter). He explained how Proof-of-Stake (PoS) is more decentralized than Proof-of-Work (PoW).
No, this is a d*ck. pic.twitter.com/HGdLsheEzi
— vitalik.eth (@VitalikButerin) September 12, 2024
Ethereum Blockchain Upgrades in The Last 5 Years
Here are some of the critical upgrades in the past 5 years that have shaped and kept Ethereum as the second-largest crypto by market capitalization.
2024
- Cancun-Deneb (“Dencun”)
2023
- Shanghai-Capella (“Shapella”)
2022
- Paris (The Merge)
- Bellatrix
- Gray Glacier
2021
- Arrow Glacier
- Altair
- London
- Berlin
2020
- Beacon Chain genesis
- Staking deposit contract deployed
- Muir Glacier
Influence of ETH Gas on Ethereum Price
Ethereum’s upgrade aims to solve the blockchain trilemma: balancing decentralization, security, and scalability. The switch to Proof-of-Stake (PoS) enhanced these aspects. Post-upgrade, Ethereum’s transaction fees (gas fees) plummeted, drawing more investors. Gas fees are like taxes, measured in Gwei, required for secure transactions.
As of October 26, the gas fee for a transaction on the ETH network as of 6 PM is 8.42 Gwei.
When Ethereum’s on-chain value grows, presenting opportunities, investors flock, driving gas fees up. This typically occurs during market upswings, peaking at all-time highs.
Ethereum Price Prediction & Trends
Despite the ongoing downtrend in Bitcoin, the recent recovery rally shows promise if BTC manages to overcome the $69K hurdle and flip $70k into a stable support floor. Such a development could be key to improving Ethereum’s price performance as the first month of quarter four nears and end.
Ethereum prices 2024
As of ‘October 26, here are some popular cryptocurrencies’ price-performance comparisons. The one-month performance shows Ether is up 6.37%, while year-to-date returns show ETH at 6,128.26%
As seen from the above year-to-date (YTD) price performance chart, Ethereum is clearly the third worst performing asset after TIA and APT. POPCAT, SUI, SOL and BTC have the best YTD returns.
Ethereum Price Outlook For Next Week
| Date | Price | Change |
|---|---|---|
| October 16, 2024 | $2,610.40 | -0.41% |
| October 17, 2024 | $2,636.88 | 0.6% |
| October 18, 2024 | $2,662.24 | 1.57% |
| October 19, 2024 | $2,702.34 | 3.1% |
| October 20, 2024 | $2,725.58 | 3.98% |
| October 21, 2024 | $2,712.67 | 3.49% |
| October 22, 2024 | $2,646.35 | 0.96% |
Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade around $2,712, a near-7% uptick in the next week. In a month, Ether could be trading at $2,759, slightly higher than from a week ago.
Ethereum Price Forecast Between 2025 & 2029
| January | $2,486.50 | $2,992.67 | $2,739.58 | 13.6% |
| February | $2,486.46 | $3,207.01 | $2,846.74 | 18.1% |
| March | $2,486.42 | $3,421.36 | $2,953.89 | 22.5% |
| April | $2,486.38 | $3,635.70 | $3,061.04 | 27% |
| May | $2,486.34 | $3,850.05 | $3,168.19 | 31.4% |
| June | $2,486.30 | $4,064.39 | $3,275.35 | 35.9% |
| July | $2,486.25 | $4,278.74 | $3,382.50 | 40.3% |
| August | $2,486.21 | $4,493.08 | $3,489.65 | 44.7% |
| September | $2,486.17 | $4,707.43 | $3,596.80 | 49.2% |
| October | $2,486.13 | $4,921.77 | $3,703.96 | 53.6% |
| November | $2,486.09 | $5,136.12 | $3,811.11 | 58.1% |
| December | $2,486.05 | $5,350.46 | $3,918.26 | 62.5% |
| All Time | $2,486.27 | $4,171.56 | $3,328.92 | 38.1% |
| January | $2,714.38 | $5,352.51 | $4,114.66 | 70.7% |
| February | $2,942.71 | $5,354.55 | $4,311.05 | 78.8% |
| March | $3,171.04 | $5,356.60 | $4,507.45 | 87% |
| April | $3,399.37 | $5,358.64 | $4,703.84 | 95.1% |
| May | $3,627.70 | $5,360.69 | $4,900.24 | 103.2% |
| June | $3,856.03 | $5,362.73 | $5,096.63 | 111.4% |
| July | $4,084.35 | $5,364.78 | $5,293.03 | 119.5% |
| August | $4,312.68 | $5,366.82 | $5,489.42 | 127.7% |
| September | $4,541.01 | $5,368.87 | $5,685.82 | 135.8% |
| October | $4,769.34 | $5,370.91 | $5,882.21 | 144% |
| November | $4,997.67 | $5,372.96 | $6,078.61 | 152.1% |
| December | $5,226 | $5,375 | $6,275 | 160.3% |
| All Time | $3,970.19 | $5,363.75 | $5,194.83 | 115.5% |
| January | $5,417.25 | $5,571.75 | $6,513.75 | 170.2% |
| February | $5,608.50 | $5,768.50 | $6,752.50 | 180.1% |
| March | $5,799.75 | $5,965.25 | $6,991.25 | 190% |
| April | $5,991 | $6,162 | $7,230 | 199.9% |
| May | $6,182.25 | $6,358.75 | $7,468.75 | 209.8% |
| June | $6,373.50 | $6,555.50 | $7,707.50 | 219.7% |
| July | $6,564.75 | $6,752.25 | $7,946.25 | 229.6% |
| August | $6,756 | $6,949 | $8,185 | 239.5% |
| September | $6,947.25 | $7,145.75 | $8,423.75 | 249.4% |
| October | $7,138.50 | $7,342.50 | $8,662.50 | 259.3% |
| November | $7,329.75 | $7,539.25 | $8,901.25 | 269.2% |
| December | $7,521 | $7,736 | $9,140 | 279.1% |
| All Time | $6,469.13 | $6,653.88 | $7,826.88 | 224.6% |
| January | $7,771.92 | $8,001.25 | $9,467.83 | 292.7% |
| February | $8,022.83 | $8,266.50 | $9,795.67 | 306.3% |
| March | $8,273.75 | $8,531.75 | $10,123.50 | 319.9% |
| April | $8,524.67 | $8,797 | $10,451.33 | 333.5% |
| May | $8,775.58 | $9,062.25 | $10,779.17 | 347.1% |
| June | $9,026.50 | $9,327.50 | $11,107 | 360.7% |
| July | $9,277.42 | $9,592.75 | $11,434.83 | 374.3% |
| August | $9,528.33 | $9,858 | $11,762.67 | 387.9% |
| September | $9,779.25 | $10,123.25 | $12,090.50 | 401.5% |
| October | $10,030.17 | $10,388.50 | $12,418.33 | 415.1% |
| November | $10,281.08 | $10,653.75 | $12,746.17 | 428.7% |
| December | $10,532 | $10,919 | $13,074 | 442.3% |
| All Time | $9,151.96 | $9,460.13 | $11,270.92 | 367.5% |
| January | $10,940 | $11,331.17 | $13,534.75 | 461.4% |
| February | $11,348 | $11,743.33 | $13,995.50 | 480.5% |
| March | $11,756 | $12,155.50 | $14,456.25 | 499.6% |
| April | $12,164 | $12,567.67 | $14,917 | 518.7% |
| May | $12,572 | $12,979.83 | $15,377.75 | 537.8% |
| June | $12,980 | $13,392 | $15,838.50 | 556.9% |
| July | $13,388 | $13,804.17 | $16,299.25 | 576% |
| August | $13,796 | $14,216.33 | $16,760 | 595.1% |
| September | $14,204 | $14,628.50 | $17,220.75 | 614.3% |
| October | $14,612 | $15,040.67 | $17,681.50 | 633.4% |
| November | $15,020 | $15,452.83 | $18,142.25 | 652.5% |
| December | $15,428 | $15,865 | $18,603 | 671.6% |
| All Time | $13,184 | $13,598.08 | $16,068.88 | 566.5% |
In a long-term outlook between 2025 and 2029, Ethereum price will end its ongoing slump and kickstart a bull rally. Based on Coingape’s forecasts, Ether prices could hover between $2,500 and $2,700 in 2025, but go as high as $22,900 in 2030.
Ethereum Prices Forecast Between 2030 & 2050
2030
2031
2032
2033
2040
2050
| January | $16,092.58 | $16,559.25 | $19,264.08 | 699% |
| February | $16,757.17 | $17,253.50 | $19,925.17 | 726.4% |
| March | $17,421.75 | $17,947.75 | $20,586.25 | 753.8% |
| April | $18,086.33 | $18,642 | $21,247.33 | 781.3% |
| May | $18,750.92 | $19,336.25 | $21,908.42 | 808.7% |
| June | $19,415.50 | $20,030.50 | $22,569.50 | 836.1% |
| July | $20,080.08 | $20,724.75 | $23,230.58 | 863.5% |
| August | $20,744.67 | $21,419 | $23,891.67 | 890.9% |
| September | $21,409.25 | $22,113.25 | $24,552.75 | 918.4% |
| October | $22,073.83 | $22,807.50 | $25,213.83 | 945.8% |
| November | $22,738.42 | $23,501.75 | $25,874.92 | 973.2% |
| December | $23,403 | $24,196 | $26,536 | 1000.6% |
| All Time | $19,747.79 | $20,377.63 | $22,900.04 | 849.8% |
| January | $24,169.83 | $24,997.58 | $27,711.08 | 1049.4% |
| February | $24,936.67 | $25,799.17 | $28,886.17 | 1098.1% |
| March | $25,703.50 | $26,600.75 | $30,061.25 | 1146.8% |
| April | $26,470.33 | $27,402.33 | $31,236.33 | 1195.6% |
| May | $27,237.17 | $28,203.92 | $32,411.42 | 1244.3% |
| June | $28,004 | $29,005.50 | $33,586.50 | 1293.1% |
| July | $28,770.83 | $29,807.08 | $34,761.58 | 1341.8% |
| August | $29,537.67 | $30,608.67 | $35,936.67 | 1390.5% |
| September | $30,304.50 | $31,410.25 | $37,111.75 | 1439.3% |
| October | $31,071.33 | $32,211.83 | $38,286.83 | 1488% |
| November | $31,838.17 | $33,013.42 | $39,461.92 | 1536.7% |
| December | $32,605 | $33,815 | $40,637 | 1585.5% |
| All Time | $28,387.42 | $29,406.29 | $34,174.04 | 1317.4% |
| January | $33,881.25 | $35,131.33 | $42,063 | 1644.6% |
| February | $35,157.50 | $36,447.67 | $43,489 | 1703.8% |
| March | $36,433.75 | $37,764 | $44,915 | 1762.9% |
| April | $37,710 | $39,080.33 | $46,341 | 1822.1% |
| May | $38,986.25 | $40,396.67 | $47,767 | 1881.2% |
| June | $40,262.50 | $41,713 | $49,193 | 1940.4% |
| July | $41,538.75 | $43,029.33 | $50,619 | 1999.5% |
| August | $42,815 | $44,345.67 | $52,045 | 2058.6% |
| September | $44,091.25 | $45,662 | $53,471 | 2117.8% |
| October | $45,367.50 | $46,978.33 | $54,897 | 2176.9% |
| November | $46,643.75 | $48,294.67 | $56,323 | 2236.1% |
| December | $47,920 | $49,611 | $57,749 | 2295.2% |
| All Time | $40,900.63 | $42,371.17 | $49,906 | 1969.9% |
| January | $49,768.50 | $51,484 | $59,820.33 | 2381.1% |
| February | $51,617 | $53,357 | $61,891.67 | 2467.1% |
| March | $53,465.50 | $55,230 | $63,963 | 2553% |
| April | $55,314 | $57,103 | $66,034.33 | 2638.9% |
| May | $57,162.50 | $58,976 | $68,105.67 | 2724.8% |
| June | $59,011 | $60,849 | $70,177 | 2810.7% |
| July | $60,859.50 | $62,722 | $72,248.33 | 2896.6% |
| August | $62,708 | $64,595 | $74,319.67 | 2982.5% |
| September | $64,556.50 | $66,468 | $76,391 | 3068.4% |
| October | $66,405 | $68,341 | $78,462.33 | 3154.3% |
| November | $68,253.50 | $70,214 | $80,533.67 | 3240.3% |
| December | $70,102 | $72,087 | $82,605 | 3326.2% |
| All Time | $59,935.25 | $61,785.50 | $71,212.67 | 2853.7% |
| January | $72,550.17 | $75,090.58 | $85,513 | 3446.8% |
| February | $74,998.33 | $78,094.17 | $88,421 | 3567.4% |
| March | $77,446.50 | $81,097.75 | $91,329 | 3688% |
| April | $79,894.67 | $84,101.33 | $94,237 | 3808.6% |
| May | $82,342.83 | $87,104.92 | $97,145 | 3929.2% |
| June | $84,791 | $90,108.50 | $100,053 | 4049.9% |
| July | $87,239.17 | $93,112.08 | $102,961 | 4170.5% |
| August | $89,687.33 | $96,115.67 | $105,869 | 4291.1% |
| September | $92,135.50 | $99,119.25 | $108,777 | 4411.7% |
| October | $94,583.67 | $102,122.83 | $111,685 | 4532.3% |
| November | $97,031.83 | $105,126.42 | $114,593 | 4652.9% |
| December | $99,480 | $108,130 | $117,501 | 4773.5% |
| All Time | $86,015.08 | $91,610.29 | $101,507 | 4110.2% |
| January | $102,603.75 | $110,953.42 | $120,084.17 | 4880.7% |
| February | $105,727.50 | $113,776.83 | $122,667.33 | 4987.8% |
| March | $108,851.25 | $116,600.25 | $125,250.50 | 5095% |
| April | $111,975 | $119,423.67 | $127,833.67 | 5202.1% |
| May | $115,098.75 | $122,247.08 | $130,416.83 | 5309.2% |
| June | $118,222.50 | $125,070.50 | $133,000 | 5416.4% |
| July | $121,346.25 | $127,893.92 | $135,583.17 | 5523.5% |
| August | $124,470 | $130,717.33 | $138,166.33 | 5630.7% |
| September | $127,593.75 | $133,540.75 | $140,749.50 | 5737.8% |
| October | $130,717.50 | $136,364.17 | $143,332.67 | 5844.9% |
| November | $133,841.25 | $139,187.58 | $145,915.83 | 5952.1% |
| December | $136,965 | $142,011 | $148,499 | 6059.2% |
| All Time | $119,784.38 | $126,482.21 | $134,291.58 | 5470% |
Betweem 2023 and 2050, Ethereum price will most likely follow the bullish outlook and aim for the six-digit territory. The highest price of Ether in 2050 based on CoinGape forecasts is $126,482.21.
Ethereum Price Lags as BTC and SOL Out perform ETH
As noted above, ETH is the third worst performer when comapring YTD returns. In the past three months, however, this outlook does not change.
While Bitcoin yielded 3.67% returns in the past three months, SUI took the first spot with 149% gain. APT is the second best performer in the past three months with a return of 46%.
4 Reasons For Ethereum’s Lackluster Price Performance For Most of 2024
- The launch of spot Bitcoin ETFs has reduced Ethereum’s volatility, appealing to traditional investors.
- Ethereum’s static prices despite its ETF launch may be due to lacking a compelling narrative for traditional investors.
- Solana, dubbed the “Ethereum-killer,” saw a significant 2024 comeback, attracting investors with its potential to outperform Ethereum.
- Solana’s high throughput, low fees, and meme coin launches drew liquidity from Ethereum, leading investors to favor Solana over the slower, more expensive Ethereum blockchain
Considering the above pointers, it’s no surprise that the price of Ethereum lags behind BTC. Furthermore, the spot ETF approval is providing headwings so it is unlikely that Ether prices improve in the short-term.
Ethereum ETFs Little Impact
The launch of spot Ethereum ETFs have not helped ETH price in anyways. Unlike the spot Bitcoin ETF that kickstarted the BTC bull run Ether remains lull. The cumulative spot Ethereum ETF flows hover around $485.28 million with October 24 noting an inflow of $2.3 million.
With Bitcoin price showing signs of breaching $70K, Ethereum price also looks promising. If BTC fails to move higher and continues its seve-month consolidation, ETH wil remain lull and extend its uninspiring performance.
Source: https://coingape.com/markets/ethereum-eth-price-today-25-october-2024/