Hey there! You’re probably here because you want to learn more about Ethereum’s price history since its inception. Well, you’re in the right place. Ethereum has had an interesting journey since it was founded back in 2015, and its price has seen significant fluctuations over the years.
In this article, we’ll cover Ethereum’s early history, the price prior to 2017, the 2017 boom, and Ethereum’s price performance since 2018. We’ll also discuss if now is a good time to invest in Ethereum.
So keep reading to learn more.
Ethereum’s Early History
You may not know it, but Ethereum’s early history stretches back to 2015 – that’s right – it’s been around for quite a while! Ethereum started out as a concept proposed by Vitalik Buterin, a Canadian-Russian programmer, in 2013. It was designed as a platform for decentralized applications and smart contracts, different from the Bitcoin blockchain.
After raising money through an Initial Coin Offering (ICO) in 2014, Ethereum launched in July of 2015.
At the time, Ethereum was priced at around $2.50. Its price remained relatively stable until 2016, when it saw a huge spike in growth. By the end of 2016, the price of Ethereum had grown to $10. This surge in price was largely due to the increasing popularity of the Ethereum platform and the applications that were built on it.
Since then, Ethereum’s price has seen a steady increase, reaching an all-time high of over $3,500 in 2021.
Ethereum Price Pre-2017
Before 2017, y’all had seen the cryptocurrency grow in popularity, with its value rising steadily. In fact, Ethereum had risen to a high of $21 in 2016, despite being released at a price of approximately $0.30.
The rise in value was largely due to the growing interest in the Ethereum network and its potential applications. The rise was also helped by the launch of several Initial Coin Offerings (ICOs) that were built on the Ethereum platform. These ICOs helped to further increase the value of Ethereum, creating a new wave of interest in the cryptocurrency.
By the end of 2016, Ethereum had grown to a market cap of over $1 billion, making it the second most valuable cryptocurrency after Bitcoin. In addition, Ethereum had become the first cryptocurrency to be accepted by major online retailers. This helped to further increase the value of the cryptocurrency, proving to investors that it was here to stay.
Ultimately, Ethereum’s value rose to a high of over $20 in 2016, before dropping again at the start of 2017.
Ethereum Price Boom of 2017
The incredible surge in 2017 catapulted Ethereum into the stratosphere, sending the cryptocurrency’s value soaring to unprecedented heights. Ethereum’s price increase got the attention of investors from all over the world, who began to buy up large amounts of the digital asset.
This influx of investment helped fuel the enormous growth in Ethereum’s market capitalization, which rose to over $30 billion during 2017. Ethereum’s price rose to a high of $1,400 in January 2018, up from just $7 in January of the same year.
This meteoric rise was attributed to a variety of factors including the increasing popularity of Initial Coin Offerings (ICOs), as well as the increasing utilization of the Ethereum blockchain. The increase in the number of decentralized applications being built on Ethereum also played a role in the surge and helped to attract more investors.
The large number of transactions that Ethereum was able to process, as well as its use for smart contracts, also contributed to its success during the boom.
Ethereum Price Performance Since 2018
After its incredible surge in 2017, Ethereum’s value has experienced both peaks and valleys, with its price performance varying significantly since 2018.
At the beginning of 2018, Ethereum had a market cap of over $130 billion and was trading at around $1,000. There was a steep decline in the price of Ether over the course of the year, with the market cap dropping to around $20 billion and the price of Ether going down to around $100.
The price of Ethereum has been steadily increasing since the beginning of 2019, with the market cap reaching over $20 billion in April 2019. However, it has been subject to fluctuations, with the market cap dropping to around $14 billion in December 2019 and the price of Ether dropping to around $128.
Despite this, Ether has been much more stable since the start of 2020, with the market cap steadily increasing and the price of Ether reaching over $220 by July 2020.
Investing in Ethereum
If you’re looking to diversify your portfolio, investing in Ethereum could be a smart move. Ethereum is the world’s second-largest cryptocurrency, and it has a wide range of potential applications.
Ethereum is different from other cryptocurrencies, as it’s a blockchain platform that supports smart contracts and decentralized applications. Therefore, investing in Ethereum can help you gain exposure to a wide range of different industries.
Not only is Ethereum a great way to diversify your portfolio, but it can also be a lucrative investment. Ethereum has seen tremendous growth since its inception, and its value has skyrocketed in recent years. This makes it an attractive option for investors looking to capitalize on the potential of the cryptocurrency market.
Additionally, Ethereum is widely regarded as the most secure cryptocurrency platform, making it a great choice for long-term investments.
Conclusion
You’ve learned the history of Ethereum since its inception, and seen how its price has changed over the years. From its humble beginnings, to the dramatic price boom of 2017, and its more recent performance, Ethereum has been an exciting investment.
With its strong fundamentals and ever-growing network, there’s no telling where the price of Ethereum will go next. Investing in Ethereum is sure to be a wild ride, but it could be a lucrative one if you get in on the ground floor.
Don’t miss out on your chance to take advantage of this revolutionary technology.
