Being one of the top contenders for the cryptocurrency with the most longevity, Ethereum makes up 18% of the total value of the biggest 250 cryptocurrency coins as of October 2021.
Ethereum was created back in 2015 not to rival Bitcoin, but to be a host for various applications that can be built on its network. Ethereum is constantly compared to Bitcoin not because of its technology, but because of its growing price and popularity among investors.
The chart above is an index that compares the performance of both Ethereum and Bitcoin over the last 90 days. An increase in the index from 100 to 110 would represent a 10 percentage point increase in the value of that coin. Bitcoin has increased by 105% over the last 3 months while Ethereum has increased by 107% over the same period.
The first Ethereum hit the market at a cost of under $2. It took only two years for the currency to reach over $300 in value, which it did in 2017. Since then, Ethereum has soared in price and peaked at $4,357 back in May 2021. The current price of Ethereum is $3,794, which is 10.7% higher than what it was only one month ago.
All prices are quoted in US dollars.
Over the last 24 hours, the price of Ethereum has changed by -$85, with a 24-hour low of $3,700 and a high of $3,897. The number of Ethereum currently in circulation is 117,987,033, with the total supply of Ethereum increasing every year.
Ethereum is the second biggest cryptocurrency in terms of market capitalization (total value in existence), and there is currently $448 billion worth of Ethereum out in the wild. Ethereum surpassed a market cap of $400 billion for the first time in May 2021. Bitcoin, the most popular cryptocurrency, has a market cap of $1,175 billion.
Over the last 24 hours, there has been $19 billion worth of Ethereum traded. The graph below depicts the volume of Ethereum traded daily. This figure can be somewhat volatile, with $19 billion being traded on one of its worst days and $58 billion on one of its best.
The price of Ethereum can also be very volatile with many external factors coming into play, from high profile celebrities tweeting about coins to countries outright banning the use of cryptocurrencies for domestic purchases. While there are some excellent guides out there covering how to invest in Ethereum, it would be wise to invest with caution.
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