What is the Ethereum price today? During January 2021, one Ethereum cost over 1,200 U.S. dollars, an increase of around 25 percent since December 2020. After Bitcoin and Bitcoin Cash, it is the third most known cryptocurrency in the United States. Still, the majority of those surveyed were not aware of Ethereum.
What is a cryptocurrency?
Cryptocurrencies are digital currencies that are not regulated by any centralized authority, such as a government or bank. They are created through a process called “mining”, when miners sell processing power to the currency’s server in exchange for an amount of the currency. For security, every transaction is stored on a distributed ledger using a technology called “blockchain”.
The cryptocurrency market
Given the price volatility of Ethereum and other cryptocurrencies, investors seem more interested in them than consumers at the moment. As such, many are looking to the market capitalization of major cryptocurrencies. Ethereum has a relatively large share of the market at the moment, but newer coins are gaining in popularity.
Invest Like A Pro
Ether, the digital token of the Ethereum blockchain, climbed past the $1,000 mark Monday to hit its highest level since Feb. 2, 2018. Ether was last trading at $1,038, up 30% in the last 24 hours, according to data from crypto news site CoinDesk.
It comes after bitcoin notched a fresh all-time high, briefly topping the $34,000 mark. The world’s biggest cryptocurrency by market value rallied to $34,452 early Sunday before easing to around $31,780 on Monday.
Even XRP, the virtual currency linked with controversial blockchain start-up Ripple, was climbing Monday. XRP was last up around 7% in the last 24 hours, trading at around 23 cents.
Meanwhile, litecoin traded over 10% higher Monday to around $155. Litecoin was created by crypto entrepreneur Charles Lee with the intention of processing transactions faster than bitcoin’s underlying blockchain network.
Alternatives to bitcoin, sometimes referred to as “altcoins” in the cryptocurrency industry, often rally in times of strength for bitcoin. Many altcoins gained after bitcoin approached $20,000 in 2017, amid increased interest from retail investors in the space.
“The super-exponential pace of gains is impressive, but brings with it the risk of very sharp corrections when they do finally arrive,” John Hardy, head of FX strategy at Saxo Bank, said in a note Monday.
Ether was within reach of an all-time high above $1,400 which it reached in mid-January 2018. The cryptocurrency’s network recently began a major upgrade called Ethereum 2.0, which is expected to make it faster and more secure.
Bitcoin Market Updates
2020 has been a year unlike any other. The Covid-19 pandemic led to an unprecedented crash across global markets with cryptocurrencies taking on huge losses in March and ETH suffering its worst decline since the 2017/18 bubble.
|24H CHANGE (%)||0.10%|
|CIRCULATING SUPPLY||18,594,775 BTC|
BTC Price Update
BTC price last updated at 08 Jan 21:09:52.
The price of Bitcoin (BTC) today is $39,285.88 USD, which has increased by 38.91 (0.10%) over the last 24 hours. The total number of BTC coins in circulation stands at 18,594,775 and $5,154,418,908 USD has been traded for the BTC/USD pair across exchanges over the last 24 hours.
- EIP-1559 ETH burn implemented, moving Ethereum one step closer to becoming a sustainable deflationary (or ultra-low inflation) cryptocurrency
- SEC provides more regulatory clarity, confirming (again) that Ethereum is not a security
- Staking services help drive ETH staked to 10 million (or ~10% of circulating supply)
- Ethereum gains mainstream attention after forward-looking regulated fintech brands integrate Ethereum-based savings accounts.
Away from price speculation, there are also numerous other developments I expect to happen next year.
- Stablecoins in circulation grow to over $100 billion with algorithmic stablecoins taking a 20% market share thanks to their capital efficiency
- US Treasury goes after Tether sending markets tumbling 😬
- DeFi TVL surpasses $200 billion thanks, in part, to the introduction of Ethereum Layer 2 protocols
- Onchain identity and reputation protocols are used to privately KYC users for the first time
- Coinbase IPO leads to a massive repricing of decentralized exchange tokens as CBSE launches with a $50 billion+ valuation.
- ETH outperforms BTC against fiat by 5x 🚀
One thing is for certain, the Ethereum ecosystem will continue to grow at a staggering pace with new ideas and experiments that once again challenge our understanding of money and value.
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