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Despite the recent Bitcoin crash, Ethereum (ETH) price today trades at $3,615.3 as of 1 PM. Surprisingly, ETH performance during the recent crash is much better than most altcoins. Regardless, Ethereum prices today hit a daily high of $3,749.6 after -2.46% move on December 2.
Ethereum Price Today: Why ETH Shows Strength as BTC Crashes?
Ethereum price performance relative to its peers shows strength and can be attributed to the recent interest as BTC edges closer to $100k. Moreover, Ether’s lacklsuter performance for the first three quarters and even October could have ended with retail and institutional money flowing in. Although Ethereum price has surged decently in the past few weeks, it cannot be compared to altcoins, which has shot up 2x to 10x in just a few days.
Regardless, ETH’s strength shows a paradigm shift that hints at an end of Ether’s boring 2024 performance has ended and that it is ready to compete with top altcoins and even BTC. Furthermore, a sideways movement in BTC or a climb toward $100k could catalyze ETH price to extend its gains.
Ethereum Price Chart Today
*Ethereum price updated as of 1 PM.
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.
Ethereum Price Forecast
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 December 2, 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 $435.4 billion.
Ethereum: The Second-Largest Crypto By Market Cap
Ethereum ranks second in market capitalization, valued at $435.4 billion, after Bitcoin’s $1.73 trillion. Together, BTC & ETH’s market capitalization constitutes 83% of the total crypto market cap.
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
Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $41.3 billion.
Ethereum’s Crypto Trading Volume Soars
The 24-hour trading volume of Ethereum is $41.3 billion. Binance is the largest contributor to this trading volume – about 11% is contributed by spot trading and nearly 40% from futures trading. Exchanges like OKX, Bitget, and ByBit follow Binance.
Ethereum Shifts From PoW to PoS Blockchain Technology
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).
Key Ethereum Blockchain Upgrades in the Past 5 Years
Here are some key upgrades in the past five years that shaped Ethereum as the second-largest crypto by market capitalization.
2024:
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Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
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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:
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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.
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Bellatrix: Prepared the Ethereum network for The Merge by introducing the necessary PoS consensus logic.
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Gray Glacier: Delayed the “difficulty bomb” that would have slowed down the network, ensuring a smooth transition to PoS.
2021:
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Arrow Glacier: Delayed the “difficulty bomb” again, providing more time for the transition to PoS.
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Altair: Introduced several improvements to the Beacon Chain, including better validator incentives and enhanced security.
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London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
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Berlin: Introduced several protocol upgrades, including improved gas efficiency and enhanced security features.
2020:
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Beacon Chain genesis: Launched the Beacon Chain, marking the beginning of Ethereum’s transition to PoS.
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Staking deposit contract deployed: Enabled users to deposit ETH and participate in the PoS consensus algorithm.
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Muir Glacier: Delayed the “difficulty bomb” to ensure a smooth transition to PoS.
ETH Gas & It’s Effect on Ethereum Price
The blockchain upgrades Ethereum receives aim to solve the trilemma of blockchain, i.e., balancing decentralization, security, and scalability. The switch to Proof-of-Stake (PoS) enhanced these aspects. Ethereum’s transaction fees (gas fees) plummeted post-upgrade, drawing more investors. Gas fees are like taxes, measured in Gwei, required for secure transactions.
As of December 2, the gas fee for a transaction on the ETH network as of 1 PM is 14 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 Outlook For Next Week
| December 01, 2024 | 3667.95 | -0.17% |
| December 02, 2024 | 3676.49 | 0.06% |
| December 03, 2024 | 3667.47 | -0.18% |
| December 04, 2024 | 3678.76 | 0.13% |
| December 05, 2024 | 3671.04 | -0.08% |
| December 06, 2024 | 3662.32 | -0.32% |
| December 07, 2024 | 3670.04 | -0.11% |
| December 08, 2024 | 3668.31 | -0.16% |
| December 09, 2024 | 3655.71 | -0.5% |
| December 10, 2024 | 3637.62 | -0.99% |
| December 11, 2024 | 3639.76 | -0.94% |
| December 12, 2024 | 3625.42 | -1.33% |
| December 13, 2024 | 3636.85 | -1.01% |
| December 14, 2024 | 3656.57 | -0.48% |
| December 15, 2024 | 3659.90 | -0.39% |
| December 16, 2024 | 3662.42 | -0.32% |
| December 17, 2024 | 3676.83 | 0.07% |
| December 18, 2024 | 3719.64 | 1.24% |
| December 19, 2024 | 3715.43 | 1.12% |
| December 20, 2024 | 3724.29 | 1.37% |
| December 21, 2024 | 3717.29 | 1.17% |
| December 22, 2024 | 3695.41 | 0.58% |
| December 23, 2024 | 3686.54 | 0.34% |
| December 24, 2024 | 3683.92 | 0.27% |
| December 25, 2024 | 3662.52 | -0.32% |
| December 26, 2024 | 3688.52 | 0.39% |
| December 27, 2024 | 3701.46 | 0.74% |
| December 28, 2024 | 3729.59 | 1.51% |
| December 29, 2024 | 3784.97 | 3.02% |
| December 30, 2024 | 3781.20 | 2.91% |
Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade at around $3,373 in the next week. This is a considerate prediction and is in line with the lackluster performance seen since the start of 2024.
Ethereum Price Outlook Between 2025 & 2029
| January | $3,550.02 | $3,784.66 | $3,667.35 | 52.1% |
| February | $3,474.63 | $3,784.34 | $3,629.49 | 50.5% |
| March | $3,399.23 | $3,784.03 | $3,591.64 | 49% |
| April | $3,323.84 | $3,783.71 | $3,553.78 | 47.4% |
| May | $3,248.44 | $3,783.40 | $3,515.93 | 45.8% |
| June | $3,173.05 | $3,783.09 | $3,478.07 | 44.3% |
| July | $3,097.65 | $3,782.77 | $3,440.22 | 42.7% |
| August | $3,022.25 | $3,782.46 | $3,402.36 | 41.1% |
| September | $2,946.86 | $3,782.14 | $3,364.51 | 39.5% |
| October | $2,871.46 | $3,781.83 | $3,326.65 | 38% |
| November | $2,796.07 | $3,781.51 | $3,288.80 | 36.4% |
| December | $2,720.67 | $3,781.20 | $3,250.94 | 34.8% |
| All Time | $3,135.35 | $3,782.93 | $3,459.14 | 43.5% |
| January | $2,929.45 | $3,914.02 | $3,502.95 | 45.3% |
| February | $3,138.23 | $4,046.83 | $3,754.95 | 55.7% |
| March | $3,347 | $4,179.65 | $4,006.96 | 66.2% |
| April | $3,555.78 | $4,312.47 | $4,258.96 | 76.6% |
| May | $3,764.56 | $4,445.28 | $4,510.97 | 87.1% |
| June | $3,973.34 | $4,578.10 | $4,762.97 | 97.6% |
| July | $4,182.11 | $4,710.92 | $5,014.98 | 108% |
| August | $4,390.89 | $4,843.73 | $5,266.98 | 118.5% |
| September | $4,599.67 | $4,976.55 | $5,518.99 | 128.9% |
| October | $4,808.45 | $5,109.37 | $5,770.99 | 139.4% |
| November | $5,017.22 | $5,242.18 | $6,023 | 149.8% |
| December | $5,226 | $5,375 | $6,275 | 160.3% |
| All Time | $4,077.72 | $4,644.51 | $4,888.97 | 102.8% |
| 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 the next year, Ethereum price could still be hovering in the current range. Based on the prediction data, ETH’s trade range extends from $3,001.19 to $4,651.84. This outlook is based on the previous data. However, if ETH breaks the trend, it could go much higher.
The long-term outlook extending from 2025 to 2029, Ethereum price could hit a high of $18,603 with the lowest point being $3,000.
Ethereum Price Outlook 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% |
Between 2023 and 2050, Ethereum’s price will most likely follow the bullish outlook and aim for the six-digit territory. The lowest price point is $16,092.58, and the highest price of Ether is $145,915.83.
Ethereum Price Analysis as ETH Remains Strong Despite BTC’s Crash
Ethereum’s sell signal, as outlined in previous CoinGape publications continues to persist but ETH has not crashed yet. This sell signal is formed as Ether produced higher high while the Relative Strength Index (RSI) produced lower high. This non-conforomity is termed bearish divergence and often leads to a correction in the price.
Despite the decisive sell signal on the daily chart, Ethereum price has not buckled yet and continues to trade around $3,600. As long as ETH stays above the $3,500 support level, the outlook remains bullish.
If there is a paradigm shift and Ethereum price remains strong, it should bounce off the $3,500 support level this week and tag the $4,000 psychological level. In a highly bullish case, Ethereum could hit $4,500 and $5,000 as well.
ETH/USDT 1-day chartOn the other hand, a breakdown of the $3,500 and $3,352 structure would signal that the bullish momentum is exhausted and sellers are taking over.
In this case, ETH could 13% to retest the $2,886 support level. In dire-case scenario, Ethereum price could break below this key barrier and reenter the $2,820 to $2,300 range in which ETH remained for nearly three months.
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