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

Discover why Ethereum price is up 0.80% today. Why is ETH price trading at $3,038 and what to expect from Ether?
By Akash Girimath
November 15, 2024 | Updated November 15, 2024
Why Ethereum Price is Up 0.87% Today as ETH Trades At $3088?

Highlights

  • Ethereum price today is up 0.80% after a crashing 11% in the past three days.
  • A recovery could be likely as BTC finds a potential support level.
  • Between 2030 to 2050, Ether prices will reach between $250k.

Ethereum (ETH) price today trades at $3,101.2 as of 11 PM. Ether prices hit a daily high of $3,130.2 today after rising 1.72% on September 26.

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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.

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Ethereum Price Chart

*Ethereum price updated as of 11 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.

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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 September 26, 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 $373.5 billion.

Ethereum is the Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $373.5 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 $32.6 billion.

Ethereum’s Humongous Share of Crypto Trading Volume

The 24-hour trading volume of Ethereum is $32.6 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 September 26, the gas fee for a transaction on the ETH network as of 11 PM 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 ‘September 26, 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%

ETH vs. BTC, SOL price performance
ETH vs. BTC, SOL price performance

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.

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Ethereum Price Outlook For Next 7 Days

Date Price Change
September 26, 20254011.551.01%
September 27, 20254056.122.14%
September 28, 20254138.704.22%
September 29, 20254306.098.43%
September 30, 20254421.0811.33%
October 01, 20254503.7813.41%
October 02, 20254394.8110.66%
October 03, 20254308.878.5%
October 04, 20254344.479.4%
October 05, 20254456.5612.22%
October 06, 20254632.0216.64%
October 07, 20254716.9718.78%
October 08, 20254781.9920.41%
October 09, 20254823.0521.45%
October 10, 20254819.5821.36%
October 11, 20254766.9320.03%
October 12, 20254721.4318.89%
October 13, 20254668.1417.55%
October 14, 20254520.6513.83%
October 15, 20254365.579.93%
October 16, 20254199.265.74%
October 17, 20254181.355.29%
October 18, 20254221.806.31%
October 19, 20254196.125.66%
October 20, 20254185.345.39%
October 21, 20254204.655.88%
October 22, 20254249.277%
October 23, 20254308.078.48%
October 24, 20254400.1010.8%
October 25, 20254475.2812.69%

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

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,583 $4,807.15 $4,195.08 6.8%
February $3,460.45 $4,791.24 $4,125.85 5%
March $3,337.91 $4,775.34 $4,056.63 3.2%
April $3,215.36 $4,759.44 $3,987.40 1.5%
May $3,092.82 $4,743.53 $3,918.18 -0.3%
June $2,970.28 $4,727.63 $3,848.96 -2%
July $2,847.73 $4,711.73 $3,779.73 -3.8%
August $2,725.19 $4,695.82 $3,710.51 -5.6%
September $2,602.64 $4,679.92 $3,641.28 -7.3%
October $2,480.10 $4,664.02 $3,572.06 -9.1%
November $2,357.55 $4,648.11 $3,502.83 -10.8%
December $2,235.01 $4,632.21 $3,433.61 -12.6%
All Time $2,909 $4,719.68 $3,814.34 -2.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,814.68 $5,039.19 $4,059.64 3.3%
February $3,394.34 $5,446.18 $4,685.68 19.3%
March $3,974.01 $5,853.16 $5,311.71 35.2%
April $4,553.67 $6,260.14 $5,937.74 51.1%
May $5,133.34 $6,667.12 $6,563.77 67.1%
June $5,713.01 $7,074.11 $7,189.81 83%
July $6,292.67 $7,481.09 $7,815.84 98.9%
August $6,872.34 $7,888.07 $8,441.87 114.9%
September $7,452 $8,295.05 $9,067.90 130.8%
October $8,031.67 $8,702.04 $9,693.94 146.7%
November $8,611.33 $9,109.02 $10,319.97 162.7%
December $9,191 $9,516 $10,946 178.6%
All Time $6,002.84 $7,277.60 $7,502.82 91%
Month Minimum Price Average Price Maximum Price Potential ROI
January $9,526.33 $9,863.92 $11,379.08 189.6%
February $9,861.67 $10,211.83 $11,812.17 200.6%
March $10,197 $10,559.75 $12,245.25 211.7%
April $10,532.33 $10,907.67 $12,678.33 222.7%
May $10,867.67 $11,255.58 $13,111.42 233.7%
June $11,203 $11,603.50 $13,544.50 244.7%
July $11,538.33 $11,951.42 $13,977.58 255.8%
August $11,873.67 $12,299.33 $14,410.67 266.8%
September $12,209 $12,647.25 $14,843.75 277.8%
October $12,544.33 $12,995.17 $15,276.83 288.8%
November $12,879.67 $13,343.08 $15,709.92 299.8%
December $13,215 $13,691 $16,143 310.9%
All Time $11,370.67 $11,777.46 $13,761.04 250.2%
Month Minimum Price Average Price Maximum Price Potential ROI
January $13,714.17 $14,207.58 $16,747.33 326.2%
February $14,213.33 $14,724.17 $17,351.67 341.6%
March $14,712.50 $15,240.75 $17,956 357%
April $15,211.67 $15,757.33 $18,560.33 372.4%
May $15,710.83 $16,273.92 $19,164.67 387.8%
June $16,210 $16,790.50 $19,769 403.2%
July $16,709.17 $17,307.08 $20,373.33 418.5%
August $17,208.33 $17,823.67 $20,977.67 433.9%
September $17,707.50 $18,340.25 $21,582 449.3%
October $18,206.67 $18,856.83 $22,186.33 464.7%
November $18,705.83 $19,373.42 $22,790.67 480.1%
December $19,205 $19,890 $23,395 495.4%
All Time $16,459.58 $17,048.79 $20,071.17 410.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $19,953.50 $20,664.25 $24,191.33 515.7%
February $20,702 $21,438.50 $24,987.67 536%
March $21,450.50 $22,212.75 $25,784 556.2%
April $22,199 $22,987 $26,580.33 576.5%
May $22,947.50 $23,761.25 $27,376.67 596.8%
June $23,696 $24,535.50 $28,173 617.1%
July $24,444.50 $25,309.75 $28,969.33 637.3%
August $25,193 $26,084 $29,765.67 657.6%
September $25,941.50 $26,858.25 $30,562 677.9%
October $26,690 $27,632.50 $31,358.33 698.1%
November $27,438.50 $28,406.75 $32,154.67 718.4%
December $28,187 $29,181 $32,951 738.7%
All Time $24,070.25 $24,922.63 $28,571.17 627.2%

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
Month Minimum Price Average Price Maximum Price Potential ROI
January $29,148.33 $30,181.08 $34,349.58 774.3%
February $30,109.67 $31,181.17 $35,748.17 809.9%
March $31,071 $32,181.25 $37,146.75 845.5%
April $32,032.33 $33,181.33 $38,545.33 881%
May $32,993.67 $34,181.42 $39,943.92 916.6%
June $33,955 $35,181.50 $41,342.50 952.2%
July $34,916.33 $36,181.58 $42,741.08 987.8%
August $35,877.67 $37,181.67 $44,139.67 1023.4%
September $36,839 $38,181.75 $45,538.25 1059%
October $37,800.33 $39,181.83 $46,936.83 1094.6%
November $38,761.67 $40,181.92 $48,335.42 1130.2%
December $39,723 $41,182 $49,734 1165.8%
All Time $34,435.67 $35,681.54 $42,041.79 970%
Month Minimum Price Average Price Maximum Price Potential ROI
January $41,560.17 $43,034.83 $51,419.83 1208.7%
February $43,397.33 $44,887.67 $53,105.67 1251.6%
March $45,234.50 $46,740.50 $54,791.50 1294.5%
April $47,071.67 $48,593.33 $56,477.33 1337.4%
May $48,908.83 $50,446.17 $58,163.17 1380.4%
June $50,746 $52,299 $59,849 1423.3%
July $52,583.17 $54,151.83 $61,534.83 1466.2%
August $54,420.33 $56,004.67 $63,220.67 1509.1%
September $56,257.50 $57,857.50 $64,906.50 1552%
October $58,094.67 $59,710.33 $66,592.33 1594.9%
November $59,931.83 $61,563.17 $68,278.17 1637.8%
December $61,769 $63,416 $69,964 1680.7%
All Time $51,664.58 $53,225.42 $60,691.92 1444.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $63,724.83 $65,445.92 $73,189.33 1762.8%
February $65,680.67 $67,475.83 $76,414.67 1844.9%
March $67,636.50 $69,505.75 $79,640 1927%
April $69,592.33 $71,535.67 $82,865.33 2009.1%
May $71,548.17 $73,565.58 $86,090.67 2091.2%
June $73,504 $75,595.50 $89,316 2173.3%
July $75,459.83 $77,625.42 $92,541.33 2255.3%
August $77,415.67 $79,655.33 $95,766.67 2337.4%
September $79,371.50 $81,685.25 $98,992 2419.5%
October $81,327.33 $83,715.17 $102,217.33 2501.6%
November $83,283.17 $85,745.08 $105,442.67 2583.7%
December $85,239 $87,775 $108,668 2665.8%
All Time $74,481.92 $76,610.46 $90,928.67 2214.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $88,677.92 $91,295.17 $112,150.75 2754.4%
February $92,116.83 $94,815.33 $115,633.50 2843.1%
March $95,555.75 $98,335.50 $119,116.25 2931.7%
April $98,994.67 $101,855.67 $122,599 3020.4%
May $102,433.58 $105,375.83 $126,081.75 3109%
June $105,872.50 $108,896 $129,564.50 3197.6%
July $109,311.42 $112,416.17 $133,047.25 3286.3%
August $112,750.33 $115,936.33 $136,530 3374.9%
September $116,189.25 $119,456.50 $140,012.75 3463.6%
October $119,628.17 $122,976.67 $143,495.50 3552.2%
November $123,067.08 $126,496.83 $146,978.25 3640.9%
December $126,506 $130,017 $150,461 3729.5%
All Time $107,591.96 $110,656.08 $131,305.88 3242%
Month Minimum Price Average Price Maximum Price Potential ROI
January $129,940.67 $134,459.25 $154,066.33 3821.3%
February $133,375.33 $138,901.50 $157,671.67 3913%
March $136,810 $143,343.75 $161,277 4004.8%
April $140,244.67 $147,786 $164,882.33 4096.5%
May $143,679.33 $152,228.25 $168,487.67 4188.3%
June $147,114 $156,670.50 $172,093 4280.1%
July $150,548.67 $161,112.75 $175,698.33 4371.8%
August $153,983.33 $165,555 $179,303.67 4463.6%
September $157,418 $169,997.25 $182,909 4555.4%
October $160,852.67 $174,439.50 $186,514.33 4647.1%
November $164,287.33 $178,881.75 $190,119.67 4738.9%
December $167,722 $183,324 $193,725 4830.6%
All Time $148,831.33 $158,891.63 $173,895.67 4326%
Month Minimum Price Average Price Maximum Price Potential ROI
January $171,839.17 $187,549.50 $197,625.50 4929.9%
February $175,956.33 $191,775 $201,526 5029.2%
March $180,073.50 $196,000.50 $205,426.50 5128.5%
April $184,190.67 $200,226 $209,327 5227.7%
May $188,307.83 $204,451.50 $213,227.50 5327%
June $192,425 $208,677 $217,128 5426.3%
July $196,542.17 $212,902.50 $221,028.50 5525.6%
August $200,659.33 $217,128 $224,929 5624.8%
September $204,776.50 $221,353.50 $228,829.50 5724.1%
October $208,893.67 $225,579 $232,730 5823.4%
November $213,010.83 $229,804.50 $236,630.50 5922.7%
December $217,128 $234,030 $240,531 6021.9%
All Time $194,483.58 $210,789.75 $219,078.25 5475.9%

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%.

ETH vs. BTC, SOL, APT, SUI, 
ETH vs. BTC, SOL, APT, SUI

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.

Ethereum ETF Inflows
Ethereum ETF Inflows

With Bitcoin price showing signs of breaching $93K, Ethereum price also looks promising.

Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Methodology

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This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount you can afford to lose.