Sitting comfortably on the second spot and far above ETC price (Ethereum Classic) on the rankings, Ethereum is one of cryptocurrency’s top projects, a little behind Bitcoin.
The digital asset that signaled the birth of smart contract tokens is no doubt competing among the very best in the industry for the topmost height. The current Ethereum price attests to this.
Just before getting deep into details, we should clarify some issues on commonly confused terms.
Ether is the cryptocurrency’s name, and Ethereum is its network. Permit us to use the term interchangeably since we’re all used to this.
Ethereum takes its function above just being a digital currency. It is a solid smart contract structure.
A Smart contract is a way of utilizing algorithms and other distinct types of programming techniques for activities on the digital space. Developers will value the application of this type the most as it makes payment for services convenient and simple.
This is what makes it so attractive and by extension those who desire to invest in it. It is the basis for a new kind of network different from what is commonly known.
With Ethereum, applications such as social media sites will be independent of server farms. We will become sovereign distributed entities on the network. Quite interesting if we may say, it is not all for Ethereum to accomplish.
Several companies are already using the Ethereum network. For instance, the Canadian government is a good example.
Ethereum is well-managed and funded and boasts of the industry’s most dependable development team. We assume Ethereum will be relevant for years to come, even though it is suffering from increased competition from the industry’s best.
NEO and Cardano may all be amazing in their way, but Ethereum still reigns supreme as the smart contract, ensuring that Ethereum prices have a bright future, at least in our estimation. It should be a good ground to invest in.
Ethereum Live Price Chart
Ethereum price is estimated in United States Dollars just as you have ETC price. ETC resulted from a fork of Ethereum but there is no match in Ethereum price and ETC price. Users are not left in the dark on the current standings in their price as updates are regularly given.
Currently, this live Ethereum price outlook is only available in USD and probably other currencies such as EUR. You should expect trading pairs including USD/ETH, EUR/ETH and the likes if you are into trading.
The price of Ethereum today is $168.15, which shows a drop of 3.57% over the last 24 hours. The total number of ETH coins in circulation is 108,261,727 and $7,490,549,197 have been exchanged for the ETH/USD pair through exchanges over the last 24 hours. Comparing this with ETC price at $4.38, so much progress is seen in Ethereum.
Devcon V, the biggest developer conference, was held and lasted till October 11th. The conference, set up by the Ethereum Foundation and completely devoted to the Ethereum blockchain, concentrated on ETH 2.0 during its four days in Osaka, Japan.
At the time, anticipation was building for more details regarding the Beacon Chain deposit contract which was expected to go live in a matter of weeks. Fear and uncertainty once again engulfed the cryptocurrency markets when the value of ETH/USD plunged from $189.33 to $165.12 within an hour, closing the day with the steepest 24-hour decline since early 2018.
ETH 2 is without a doubt the most significant development happening in the blockchain space in recent times. The deployment will see the world’s second-largest blockchain scale upwards by as much as a thousand times.
That creates an unparalleled level of expansion and commercial interest that has never been seen before in the industry.
Ethereum price, the second-best cryptocurrency in terms of its market cap is now worth $168 at the current standing (23 October 2019). Experts expect a lot more from this performance as it tops in the smart contract family of digital currencies as it is one of the world’s broadly utilized cryptocurrencies.
That said, with ETC price currently at $4.38, the once close rival of Ethereum has lost the chase of this asset.
This crypto coin is of great interest to people who want to swap it for USD, or EUR as the case applies. Traders who agree that Ethereum price is ideal for huge-volume exchange dealings are also particularly interested.
Therefore, it is said that Ethereum is a good choice for people who consider it a utility commodity as well as for those who simply want to exchange it.
Besides Ethereum’s utility value, its price is much more attractive compared to Bitcoin’s. And many prefer it because of the confidence in its blockchain technologies and the concept of the decentralization it upheld. They see a solid foundation.
Therefore, It is among the currencies widely exchanged on the internet and frequently used cryptocurrency on exchanges for its value. Before you invest, let’s critically examine its price.
Ethereum Historical Prices
Ether has come a long way in history. Currently, on $168, the price of Ethereum was far higher than this last year. We can’t forget so quickly the historical peak it attained back then in 2017 reaching, $1000. And this cryptocurrency will continue to be characterized by volatility.
At only a few cents, Ethereum entered the virtual currency market. There was a lot of hype behind this ambitious blockchain, but nobody knew if it could deliver, and for all its potential, the Ethereum network simply lived up to expectation.
Ethereum prices rose from fractions of the USD in 2015. For the first time, Ethereum prices crested $10 in early 2017, and things began to go a little wild from there.
A single Ethereum was trading for almost $1,400 within a year. But for a brief moment, Ethereum seemed almost precious, a virtual commodity in the tens or even hundreds of thousands of dollars. That wasn’t to be at the moment.
Today in history, more than 90% of its all-time high value has been lost. And yet it’s worth hundreds of times than it was in its early days much like ETC price. Ethereum continues to be sold for over $100 with ETC price, not in view. ETC price was nowhere near it.
Even as investors are suspicious of their internal workings and real potential, Ethereum has been viewed by the crypto market to have inherent value. If the foundation is true, and Ethereum can make progress in terms of consensus, scaling, mining Ethereum, and other internal problems, we think the prices for Ethereum will move quickly.
In a not too distant time, we may be checking past all-time highs. Let’s look at a few predictions of Ethereum right now.
Should you invest? If Ethereum is bound to succeed, the existing crypto-economy won’t collapse into oblivion, and that this incredible technology has golden dawn on the horizon.
What is our prediction of Ethereum for the future? Let’s back at it year after year.
Ethereum in 2020
We hope that by 2020, Ethereum will have sorted out its biggest problems and that real-world acceptance of Ethereum’s smart contracts will start making the news.
In this, Ethereum will be an important new technology for diverse purposes that is easy, inexpensive, and useful. The technology must switch from just trying to make Ethereum work to building applications that revolutionize Ethereum.
We think Ethereum prices are going to be somewhere around $900–$1,100 in this case.
Ethereum in 2021
If Ethereum fires up in 2021 and beyond on all fronts, many good things lie ahead. It will have been, at this stage, the technology platform that all its fans wanted for so many years.
It will be widely useful, quickly, at low cost, and without hierarchical database methods, storing data issues and completing transactions. At this point, we predict $4,000–$9,000.
Whether this vision will come to pass, there is no way we can tell, but we have a lot of reason to believe that progress is being made in Ethereum. Ethereum is very popular on Github and every few months new features are introduced by a hard fork to the network.
Of late, developments such as Casper are still anticipated, and their actual implementation will change the tune of Ethereum’s critics. Of course, all this may fail, but we know enough about Ethereum to retain a cautious optimism and investment positions that could pay off a large amount of time.
Factors Affecting Ethereum Price
When Ethereum’s popularity exploded and found itself on the market as the world’s second most popular cryptocurrency, Ethereum price went from $10 to almost $1,400, apparently overnight.
The value hit an unprecedented high in January 2018 but has struggled to stabilize since then. Cryptocurrency is interesting, and often quite a volatile market. The fast and dramatic variations may be intimidating, but they are exciting.
But what are these ups and downs leading to?
One thing to consider is about the viability of mining. The two most important things that decide its value are speculative behavior and mining profitability. When the profitability is high, miners have an incentive to sell their coins at a better price, and when the price is between $300-400, the mining profitability is quite low.
Many people will want to start mining coins when it’s lucrative, and eventually, this will reduce profitability. If there’s a large number of miners, they’re going to start selling at lower prices, or they’re going to hold on to them and wait to sell when things get better.
The bottom line is that it is difficult to predict prices because of the very nature of mining and it also lends itself to price fluctuations.
China took a huge stance. South Korea then began to threaten. This resulted in a significant decrease in investment inflow. One of the benefits of the cryptocurrency market is that the fiat sector does not have all the drawbacks and regulations.
Therefore, whenever the term ‘ control’ is tossed around by a major economic force, it will hurt crypto prices across the board. Especially, since many transactions involving cryptocurrency are cross-border transactions.
The usual scenario is that crypto companies based in that country must move their operations to a different state that has a more favorable view of cryptocurrencies. This is a problem and will continue to cause investors to pause, even if the pause is only temporary.
On the other side, if a country takes action that clearly shows a willingness to accept the cryptocurrency business, this can have a positive effect on the prices of the coin.
3. Cryptocurrency Exchanges
Because the cryptocurrency exchanges are all relatively new, they do not have the entire infrastructure necessary to deal with the rapid growth of cryptocurrencies such as Ethereum.
Some exchanges have stopped accepting new accounts while increasing their options. Exchanges have faced other challenges such as breaches of security and upgrades to technology that take much longer than they expected.
All these problems can have an impact on prices. Currently, short-term price fluctuations will result from the lack of a secure and predictable trading environment.
This has a positive effect on prices. When more people adopt the technology, prices will rise particularly when a large influx of new users takes place. So when Ethereum is embraced by a major corporation or it unexpectedly gains traction in a particular industry, the price will rise.
The main reason is that inevitably an influx of new users raises the coin demand. Simultaneously, it also stabilizes the market and reduces some uncertainty, rendering Ethereum more attractive to potential shareholders.
This is achieved by many people who use Ethereum as they look at Ethereum’s future potential. Ethereum is a network for a wide range of individuals.
FinTech businesses easily integrate smart contracts, blockchain, and automation into their daily operations, and Ethereum is one of the most appropriate cryptocurrencies for automation and smart contracts.
So many different companies are emerging that use smart contracts that the market for Ethereum will probably continue to climb for quite a while.
6. Demand & Supply
Competition is something else to remember. Every month thousands of new cryptocurrencies hit the market. Many of these have no lasting impact. But when a new currency appears that seems to have some stability, rates can be affected if the asset shares some of its usefulness with Ethereum.
In the end, the Ethereum price is determined by supply and demand. But the supply and demand can be affected by many factors. Others like government regulation tend to hurt the price.
Others will increase prices. But as the crypto market’s environment is still in its early stages, there is a long and complex list of potential factors and many of the factors are unknown.
Although the Ethereum price is hard to predict, the crypto market system can improve over time and stabilize. Eventually, prices will become easier to assess.
As noted, most Bitcoin transactions reflect speculative trading, whereas in Ether there are more commercial transactions.
An exception was the bull run-up on mostly speculative trading activity in December and January when the transaction volume soared from 500,000 to 1,25 million.
The volume of daily transactions now fluctuates around 600,000. As the Ethereum token standard (ECR-20)-based blockchain marketplaces expand, the percentage of the volume of commercial transactions is growing.
7. Ethereum Wallets
The real driver of the currency’s development is opening up the digital wallets for consumers. The number of Ethereum wallets used to store, send and receive the coin in 2018 jumped by September the same year.
While the average addition of Ethereum wallets is currently in its tens of thousands, there is a strong positive trend in shoppers spending Ether and so the demand increases leading to scarcity and subsequently increase in price.
So the big challenge for Ethereum price at the moment is having its diverse set of miners, designers, and users to agree on some important new ways that Ethereum can function. Mining incentives can be decreased, and mining resources can be cut down.
That all might sound too complicated but just remember this, Ethereum has to make some very big decisions that will make a difference in how the network works for the rest of its lifetime.
We believe that Ethereum will eventually reach a consensus, even if a faction hard-forks off like Ethereum Classic (ETC). It is still a viable coin to invest in.
Ethereum will have smoother sailing ahead in this case and the public will see that Vitalik and the organization are willing to make bold improvements to achieve their goals. Optimism will return to the markets and the Ethereum price is hoped to skyrocket.
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