Why Ethereum Price is Up 0.87% Today as ETH Trades At $3088?

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Ethereum (ETH) price today trades at $3,099.2 as of 11 AM. Ether prices hit a daily high of $3,199.7 today after rising -2.24% on November 15.

Why is Ethereum Price Up Today?

The Ethereum price trades at $3,042 after crashing nearly 11% in the past three days. As of Novemeber 15, ETH is up 0.87%. This downtick is not in line with Bitcoin, which is up 0.52% today. This shows weakness among altcoins despiet the steady uptrend with BTC. If this trend keeps up value of ETH could suffer another drop soon.

Ethereum Price Chart

*Ethereum price updated as of 11 AM.

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.

Historical Ethereum Price Data

The year-to-date (YTD) performance of ETH is 33.17%, after hitting nearly 50% just three days ago. As of November 15, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 316 days, would be up roughly $3,317. Regardless Ethereum’s market capitalization stands at $372.9 billion.

Ethereum is the Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $372.9 billion, after Bitcoin’s $1.73 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): $98.8 billion
Ripple (XRP): $89.8 billion

Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $35.9 billion.

Ethereum’s Humongous Share of Crypto Trading Volume

The 24-hour trading volume of Ethereum is $35.9 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 Upgrades to a PoS Blockchain

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).

Important Ethereum Blockchain Upgrades in The Past 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

ETH Gas & Its Influence 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 November 15, the gas fee for a transaction on the ETH network as of 11 AM is 15.84 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 uptrend in Bitcoin, Ethereum continues to lag behind BTC, with only a select few altcoins shooting higher. If ETH manages to break out of this slump, it could trigger a rally toward $3,500.

Ethereum prices 2024

As of ‘November 15, here are some popular cryptocurrencies’ price-performance comparisons. The one-month performance shows Ether is up 15.37%, while year-to-date returns show ETH at 31.38%

As seen from the above year-to-date (YTD) price performance chart, Ethereum is clearly the worst-performing asset when paired with DOGE, SUI, SOL, and even BTC.

Ethereum Price Outlook For Next 7 Days

Date Price Change

November 15, 2024	$3,226.55	1.63%
November 16, 2024	$3,250.05	2.37%
November 17, 2024	$3,272.52	3.07%
November 18, 2024	$3,308.65	4.21%
November 19, 2024	$3,328.19	4.83%

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	$2,508.55	$3,679.47	$3,094.01	28.3%
February	$2,517.49	$3,863.74	$3,190.62	32.3%
March	$2,526.42	$4,048.01	$3,287.22	36.3%
April	$2,535.36	$4,232.28	$3,383.83	40.3%
May	$2,544.30	$4,416.55	$3,480.43	44.4%
June	$2,553.24	$4,600.83	$3,577.04	48.4%
July	$2,562.17	$4,785.10	$3,673.64	52.4%
August	$2,571.11	$4,969.37	$3,770.24	56.4%
September	$2,580.05	$5,153.64	$3,866.85	60.4%
October	$2,588.99	$5,337.91	$3,963.45	64.4%
November	$2,597.92	$5,522.18	$4,060.06	68.4%
December	$2,606.86	$5,706.45	$4,156.66	72.4%
All Time	$2,557.70	$4,692.96	$3,625.34	50.4%

January	$2,825.12	$5,678.83	$4,333.19	79.7%
February	$3,043.38	$5,651.21	$4,509.72	87%
March	$3,261.65	$5,623.59	$4,686.25	94.4%
April	$3,479.91	$5,595.97	$4,862.77	101.7%
May	$3,698.17	$5,568.35	$5,039.30	109%
June	$3,916.43	$5,540.73	$5,215.83	116.3%
July	$4,134.69	$5,513.10	$5,392.36	123.7%
August	$4,352.95	$5,485.48	$5,568.89	131%
September	$4,571.22	$5,457.86	$5,745.42	138.3%
October	$4,789.48	$5,430.24	$5,921.94	145.6%
November	$5,007.74	$5,402.62	$6,098.47	152.9%
December	$5,226	$5,375	$6,275	160.3%
All Time	$4,025.56	$5,526.91	$5,304.09	120%

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 with popular crypto like Solana, Shiba Inu, Dogecoin and so on. In the past three months, however, this outlook does not change.

While Bitcoin yielded 49.21% returns in the past three months, SUI took the first spot with 260.75% gain. DOGE is the second best performer in the past three months with a return of 260.35%.

Why Ethereum Price Performance in 2024 is Disappointing

The launch of spot Bitcoin ETFs has reduced Ethereum’s volatility, appealing to traditional investors. Additionally, Ethereum’s static prices despite its ETF launch may be due to lacking a compelling narrative for traditional investors. To make matters worse, Solana, dubbed the “Ethereum-killer,” saw a significant 2024 comeback, attracting investors with its potential to outperform Ethereum. Lastly, 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 key points, it’s no surprise that the price of Ethereum lags behind BTC.

Ethereum ETFs Have Little Impact on ETH Price

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 remained lull for the most part with an uptick in the recent past. The cumulative spot Ethereum ETF flows hover around $485.28 million with October 24 $238 million. The daily ETF flow as of November 14 stands at -$3.24 million.