Ethereum Price Today: Will ETH Outperform BTC?

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As someone who has been closely following the crypto world for years now, I must say that the evolution of Ethereum has been nothing short of fascinating. Having witnessed the struggles and triumphs of this groundbreaking blockchain platform firsthand, I can confidently assert that its journey is a testament to the relentless pursuit of innovation and progress in the tech industry.

Currently, the price of Ethereum (ETH) is undisclosed as we speak, having peaked at an unspecified high earlier today following a rise of approximately undefined percent on November 25th.

Why is Ethereum Price Rising Today?

Following a 11% drop over the past three days, Ethereum’s price currently surged by an unspecified percentage within the last 20 seconds and is now trading at approximately $3,042. As of November 16, there are indications suggesting that the value of ETH might keep rising, potentially reaching crucial resistance levels.

Ethereum Price Today

Ethereum Price Chart Today

*Ethereum price updated as of No data found for ethereum on 20 seconds ago.

Since its debut in 2015, Ethereum has distinguished itself among altcoins by virtue of its groundbreaking smart contract technology. Regular significant network updates keep Ethereum at the forefront of smart contract innovation. The most recent update, named Cancun, was rolled out on March 13, 2024.

Ethereum Price & Historical Data

ETH’s year-to-date (YTD) performance continues to increase and currently sits at 33%. This recent slump in Bitcoin price has affected the YTD gains, which have dropped from 50% since November 11. As of November 25, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 317 days, would be up roughly $3,317. Ethereum’s market capitalization stands at No data found for ethereum on 20 seconds ago.

Ethereum: The Second-Largest Crypto By Market Cap

Currently, Ethereum holds the second spot in terms of market value, with an estimated worth of approximately $1.73 trillion (as of now, Bitcoin’s market cap is not available at this moment). Combined, Bitcoin and Ethereum account for a substantial 83% of the entire cryptocurrency market capitalization.

Since its all-time high of $571 billion in November 2021, Ethereum’s value decreased by half in October, but has spiked recently due to Bitcoin’s new ATH. Still, Ethereum maintains a strong lead over other popular cryptocurrencies:
  • Solana (SOL): $98.8 billion
  • Ripple (XRP): $89.8 billion
  • BNB (BNB): $91.0 billion

Although there’s been a dip and bounce back in the past day, currently, we don’t have data available for Ethereum’s 24-hour trading volume as of 20 seconds ago.

Ethereum’s Crypto Trading Volume Remains High

Currently, there’s no data available for Ethereum’s 24-hour trading volume as of 20 seconds ago. However, it’s important to note that Binance is the primary contributor, accounting for approximately 11% through spot trading and around 40% from futures trading. Other notable contributors include OKX, Bitget, and ByBit.

Ethereum Shifts From PoW to PoS

The London hard fork represents a significant update to the Ethereum blockchain system. This upgrade transformed the network from a Proof-of-Work (mining) model to a Proof-of-Stake (staking) model, as proposed by Ethereum co-creator Vitalik Buterin. In his recent comments on X (previously Twitter), he articulated why the Proof-of-Stake system offers greater decentralization compared to the Proof-of-Work mechanism.

Key Ethereum Upgrades in The Past Five Years

Over the last five years, several significant improvements have been made to Ethereum, which currently ranks as the second-biggest cryptocurrency by market cap.

2024:

  • Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
  • Shanghai-Capella (“Shapella”): Enabled the withdrawal of staked Ether (ETH), marking a significant milestone in Ethereum’s transition to a Proof-of-Stake (PoS) consensus algorithm.
2022:
  • Paris (The Merge): Successfully transitioned Ethereum from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus algorithm, reducing energy consumption and increasing security.
  • Bellatrix: Prepared the Ethereum network for The Merge by introducing the necessary PoS consensus logic.
  • Gray Glacier: Delayed the “difficulty bomb” that would have slowed down the network, ensuring a smooth transition to PoS.
2021:
  • Arrow Glacier: Delayed the “difficulty bomb” again, providing more time for the transition to PoS.
  • Altair: Introduced several improvements to the Beacon Chain, including better validator incentives and enhanced security.
  • London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
  • Berlin: Introduced several protocol upgrades, including improved gas efficiency and enhanced security features.
2020:
  • Beacon Chain genesis: Launched the Beacon Chain, marking the beginning of Ethereum’s transition to PoS.
  • Staking deposit contract deployed: Enabled users to deposit ETH and participate in the PoS consensus algorithm.

  • Muir Glacier: Delayed the “difficulty bomb” to ensure a smooth transition to PoS.

ETH Gas & Its Effect on Ethereum Price

The updates made to the Ethereum blockchain aim to tackle the challenge of maintaining a balance between decentralization, security, and scalability – often referred to as the blockchain trilemma. Transitioning to Proof-of-Stake (PoS) has significantly improved these key aspects. Following the upgrade, transaction fees on Ethereum (commonly known as gas fees) have decreased substantially, attracting more investors. These fees serve a purpose similar to taxes, being necessary for secure transactions and priced in Gwei.

Currently, as of November 25th, the cost in gas (fees) for executing a transaction on the Ethereum network stands at approximately 15.84 Gwei.

As the on-chain worth of Ethereum increases, attracting investors who see potential, this often leads to a surge in gas fees. This phenomenon usually happens during bull markets, reaching its peak at record highs.

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2024-11-25 18:12