Ethereum Price Today is $2,572, ETH is Down 1.81%

Ethereum price today is showing no signs of stopping the downtrend as it is down nearly 1.80%. ETH price trades at $2,572.
By Akash Girimath
October 23, 2024 | Updated October 23, 2024
Why Ethereum Price is Up 0.87% Today as ETH Trades At $3088?

Highlights

  • Ethereum price today is down 1.80% and currently trades around $2,572.
  • If ETH does not recover today, it would mark the third-consecutive down day.
  • Despite the bearish short-term outlook, the long-term outlook remains bullish for Ether prices with ETH hitting the six-digit territory before 2050.

Ethereum (ETH) price today trades at $2,520.3 as of 11 PM. This drop comes after ETH price opened today at $2,622.81 and hit a daily high of $2,624.2. Since the opening price, Ether is down -3.95% on November 5.

Ethereum Price Today Drops For The Third Consecutive Day

Ethereum price’s near-2.0% slide comes after Bitcoin’s October 23 slump. This bearish trend began after BTC’s weekend rally formed a local top on October 20. Since then, ETH prices and the rest of the crypto markets have been climbing down. Investors must be cautious as this crash could continue until the pioneer crypto forms a local bottom.

Ethereum Price Chart

*Ethereum price updated as of 11 PM.

Ethereum has been the popular smart contract altcoin since its inception in 2015. However, being first is not enough, which is why the Ethereum blockchain continues to receive major network upgrades. Regardless, the ETH price action over the past year has been nothing but a disappointment to investors.

Investors had high expectations for ETH after the spot ETF approval, but Ethereum price has remained rather lull compared to the rest of the top altcoins.

Ethereum’s Historical Price Performance

The year-to-date (YTD) performance of ETH has dropped to 9% after being around 20% just three days ago. If Bitcoin’s outlook remains bearish, Ethereum’s lackluster performance will likely worsen, leading to a drop in market capitalization, which currently stands at $303.5 billion, making it the second-largest cryptocurrency.

Ethereum: The Second-Largest Cryptocurrency

Clubbing Ethereum’s $303.5 billion market cap with Bitcoin’s (BTC) $1.15 trillion shows that the duo control nearly 70% of the total crypto market capitalization. The top one and two spots have always been allocated to BTC and ETH, with the exception of a few rare cases where Stablecoin Tether (USDT) and Ripple (XRP) have crept up to the second spot in the past.

Will Ethereum’s market cap remain stable and tower over Solana (SOL), Ripple (XRP), and other altcoins? The chances are high, considering Solana and Ripple’s market capitalizations hover around $78 billion and $30 billion, respectively.

Ethereum’s Trading Volume

Although Ethereum price performance has been down bad, the 24-hour trading volume of Ethereum is $18.7 billion. About 11% of this spot Ethereum trading volume comes from Binance, one of the largest cryptocurrency exchanges. Following Binance are exchanges like OKX, Bitget, ByBit, etc.

Ethereum Blockchain Upgrade to PoS

A high trading volume and popularity are not the only two features that have kept Ethereum in the top second spot for years. ETH has received plenty of network updates since its inception in 2015. This is done to ensure that the network remains secure, decentralized, and scalable.

Toward this effort, the London hard fork stands out since it converted the blockchain from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Although there were a ton of criticisms toward the switch, Ethereum has become more secure and decentralized since the upgrade. The transaction cost has also improved vastly since the London hard fork, making it a desired chain to transact on.

Ethereum Blockchain Upgrades in The Last 5 Years

Here are some key milestone upgrades to the Ethereum network over the past five years.

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

Ethereum Gas Price Influence

Ethereum’s upgrades try to strike a balance between decentralization, security, and scalability. The Proof-of-Stake switch achieved via the London hard fork has had huge impact on scalability and has slashed gas fees exponentially.

Ethereum gas price today stands at approximately 9. Gwei.

Gwei as a tiny transaction tax. This tax or gas fee often soars during bull run when there’s more value to be extracted on-chain.

Ethereum Price Prediction & Upcoming Trends

The recent spike in Ethereum price can be attributed to Bitcoin’s uptick toward $69K. This shift in momentum for BTC could end the seven-month consolidation and potentially kickstart a comeback for ETH.

Ethereum prices 2024

As of ‘November 5, here is a comparison between Ethereum and Bitcoin’s YTD, 6-month and 1-month performance.

ETH vs. BTC Price Performance
ETH vs. BTC Price Performance

Ethereum price today trades at $2,752, slightly higher than Tuesday, but investors should note that the overall bias of the crypto markets is bearish and could lead to further correction ahead of the week.

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Ethereum Price For Next 30 Days

Date Price Change
November 05, 20253495.25-0.65%
November 06, 20253534.850.48%
November 07, 20253608.432.57%
November 08, 20253757.176.8%
November 09, 20253859.049.69%
November 10, 20253932.5311.78%
November 11, 20253834.639%
November 12, 20253759.376.86%
November 13, 20253791.017.76%
November 14, 20253891.8210.62%
November 15, 20254047.7115.05%
November 16, 20254122.0917.17%
November 17, 20254179.5118.8%
November 18, 20254215.9919.84%
November 19, 20254211.6119.71%
November 20, 20254164.8318.38%
November 21, 20254124.5417.24%
November 22, 20254075.3915.84%
November 23, 20253944.3412.12%
November 24, 20253806.198.19%
November 25, 20253658.423.99%
November 26, 20253646.853.66%
November 27, 20253681.264.64%
November 28, 20253658.443.99%
November 29, 20253649.963.75%
November 30, 20253667.124.24%
December 01, 20253707.795.39%
December 02, 20253760.046.88%
December 03, 20253842.799.23%
December 04, 20253907.4611.07%

Based on the Ethereum price prediction, investors can ETH to hover 1% lower on October 29, 2024 as compared to today’s Ether price of $2,752.

Ethereum Prices Outlook Between 2025 and 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,764.02 $4,216.26 $3,990.14 13.6%
February $3,608.61 $4,216.52 $3,912.57 11.4%
March $3,453.20 $4,216.79 $3,834.99 9.2%
April $3,297.78 $4,217.05 $3,757.42 7%
May $3,142.37 $4,217.32 $3,679.85 4.8%
June $2,986.96 $4,217.59 $3,602.28 2.6%
July $2,831.55 $4,217.85 $3,524.70 0.39%
August $2,676.14 $4,218.12 $3,447.13 -1.8%
September $2,520.73 $4,218.38 $3,369.56 -4%
October $2,365.31 $4,218.65 $3,291.99 -6.2%
November $2,209.90 $4,218.91 $3,214.41 -8.4%
December $2,054.49 $4,219.18 $3,136.84 -10.7%
All Time $2,909.25 $4,217.72 $3,563.49 1.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,638.12 $4,644.83 $3,851.27 9.7%
February $3,221.74 $5,070.48 $4,565.70 30%
March $3,805.37 $5,496.14 $5,280.13 50.4%
April $4,388.99 $5,921.79 $5,994.56 70.7%
May $4,972.62 $6,347.44 $6,708.99 91.1%
June $5,556.25 $6,773.09 $7,423.42 111.4%
July $6,139.87 $7,198.74 $8,137.85 131.8%
August $6,723.50 $7,624.39 $8,852.28 152.1%
September $7,307.12 $8,050.05 $9,566.71 172.5%
October $7,890.75 $8,475.70 $10,281.14 192.8%
November $8,474.37 $8,901.35 $10,995.57 213.2%
December $9,058 $9,327 $11,710 233.5%
All Time $5,848.06 $6,985.92 $7,780.64 121.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $9,393.58 $9,679.08 $12,045.17 243.1%
February $9,729.17 $10,031.17 $12,380.33 252.6%
March $10,064.75 $10,383.25 $12,715.50 262.2%
April $10,400.33 $10,735.33 $13,050.67 271.7%
May $10,735.92 $11,087.42 $13,385.83 281.3%
June $11,071.50 $11,439.50 $13,721 290.8%
July $11,407.08 $11,791.58 $14,056.17 300.3%
August $11,742.67 $12,143.67 $14,391.33 309.9%
September $12,078.25 $12,495.75 $14,726.50 319.4%
October $12,413.83 $12,847.83 $15,061.67 329%
November $12,749.42 $13,199.92 $15,396.83 338.5%
December $13,085 $13,552 $15,732 348.1%
All Time $11,239.29 $11,615.54 $13,888.58 295.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $13,563.08 $14,047.67 $16,309.92 364.5%
February $14,041.17 $14,543.33 $16,887.83 381%
March $14,519.25 $15,039 $17,465.75 397.5%
April $14,997.33 $15,534.67 $18,043.67 413.9%
May $15,475.42 $16,030.33 $18,621.58 430.4%
June $15,953.50 $16,526 $19,199.50 446.8%
July $16,431.58 $17,021.67 $19,777.42 463.3%
August $16,909.67 $17,517.33 $20,355.33 479.8%
September $17,387.75 $18,013 $20,933.25 496.2%
October $17,865.83 $18,508.67 $21,511.17 512.7%
November $18,343.92 $19,004.33 $22,089.08 529.1%
December $18,822 $19,500 $22,667 545.6%
All Time $16,192.54 $16,773.83 $19,488.46 455.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $19,526.50 $20,213 $23,522.92 570%
February $20,231 $20,926 $24,378.83 594.4%
March $20,935.50 $21,639 $25,234.75 618.7%
April $21,640 $22,352 $26,090.67 643.1%
May $22,344.50 $23,065 $26,946.58 667.5%
June $23,049 $23,778 $27,802.50 691.9%
July $23,753.50 $24,491 $28,658.42 716.2%
August $24,458 $25,204 $29,514.33 740.6%
September $25,162.50 $25,917 $30,370.25 765%
October $25,867 $26,630 $31,226.17 789.4%
November $26,571.50 $27,343 $32,082.08 813.8%
December $27,276 $28,056 $32,938 838.1%
All Time $23,401.25 $24,134.50 $28,230.46 704.1%

While the short-term outlook remains clouded for crypto markets due to BTC’s consolidation, the long-term outlook remains bullish with Coingape’s Ethereum price forecast hinting at six-digit territory between 2025  and 2030.

In 2025, however, ETH could be traded hands between $2,500 and $3,300, with a potential ROI of 76%. Between 2024 and 2030, Ethereum price could surpass the current ATH of $4,864 and set up a new one, $22,900.

Ethereum Price Outlook between 2030 and 2050

2030
2031
2032
2033
2040
2050
Month Minimum Price Average Price Maximum Price Potential ROI
January $28,417.17 $29,249.08 $34,130.33 872.1%
February $29,558.33 $30,442.17 $35,322.67 906.1%
March $30,699.50 $31,635.25 $36,515 940%
April $31,840.67 $32,828.33 $37,707.33 974%
May $32,981.83 $34,021.42 $38,899.67 1007.9%
June $34,123 $35,214.50 $40,092 1041.9%
July $35,264.17 $36,407.58 $41,284.33 1075.9%
August $36,405.33 $37,600.67 $42,476.67 1109.8%
September $37,546.50 $38,793.75 $43,669 1143.8%
October $38,687.67 $39,986.83 $44,861.33 1177.7%
November $39,828.83 $41,179.92 $46,053.67 1211.7%
December $40,970 $42,373 $47,246 1245.7%
All Time $34,693.58 $35,811.04 $40,688.17 1058.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $42,748 $44,175.33 $49,253.67 1302.8%
February $44,526 $45,977.67 $51,261.33 1360%
March $46,304 $47,780 $53,269 1417.2%
April $48,082 $49,582.33 $55,276.67 1474.4%
May $49,860 $51,384.67 $57,284.33 1531.6%
June $51,638 $53,187 $59,292 1588.7%
July $53,416 $54,989.33 $61,299.67 1645.9%
August $55,194 $56,791.67 $63,307.33 1703.1%
September $56,972 $58,594 $65,315 1760.3%
October $58,750 $60,396.33 $67,322.67 1817.5%
November $60,528 $62,198.67 $69,330.33 1874.7%
December $62,306 $64,001 $71,338 1931.8%
All Time $52,527 $54,088.17 $60,295.83 1617.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $64,523 $66,343.42 $74,533 2022.8%
February $66,740 $68,685.83 $77,728 2113.8%
March $68,957 $71,028.25 $80,923 2204.8%
April $71,174 $73,370.67 $84,118 2295.8%
May $73,391 $75,713.08 $87,313 2386.8%
June $75,608 $78,055.50 $90,508 2477.8%
July $77,825 $80,397.92 $93,703 2568.8%
August $80,042 $82,740.33 $96,898 2659.8%
September $82,259 $85,082.75 $100,093 2750.8%
October $84,476 $87,425.17 $103,288 2841.8%
November $86,693 $89,767.58 $106,483 2932.8%
December $88,910 $92,110 $109,678 3023.8%
All Time $76,716.50 $79,226.71 $92,105.50 2523.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $92,565.75 $95,806.17 $113,497.58 3132.6%
February $96,221.50 $99,502.33 $117,317.17 3241.4%
March $99,877.25 $103,198.50 $121,136.75 3350.2%
April $103,533 $106,894.67 $124,956.33 3459%
May $107,188.75 $110,590.83 $128,775.92 3567.8%
June $110,844.50 $114,287 $132,595.50 3676.6%
July $114,500.25 $117,983.17 $136,415.08 3785.4%
August $118,156 $121,679.33 $140,234.67 3894.2%
September $121,811.75 $125,375.50 $144,054.25 4002.9%
October $125,467.50 $129,071.67 $147,873.83 4111.7%
November $129,123.25 $132,767.83 $151,693.42 4220.5%
December $132,779 $136,464 $155,513 4329.3%
All Time $112,672.38 $116,135.08 $134,505.29 3731%
Month Minimum Price Average Price Maximum Price Potential ROI
January $138,430.92 $142,604.83 $161,658.50 4504.3%
February $144,082.83 $148,745.67 $167,804 4679.4%
March $149,734.75 $154,886.50 $173,949.50 4854.4%
April $155,386.67 $161,027.33 $180,095 5029.5%
May $161,038.58 $167,168.17 $186,240.50 5204.5%
June $166,690.50 $173,309 $192,386 5379.5%
July $172,342.42 $179,449.83 $198,531.50 5554.6%
August $177,994.33 $185,590.67 $204,677 5729.6%
September $183,646.25 $191,731.50 $210,822.50 5904.6%
October $189,298.17 $197,872.33 $216,968 6079.7%
November $194,950.08 $204,013.17 $223,113.50 6254.7%
December $200,602 $210,154 $229,259 6429.7%
All Time $169,516.46 $176,379.42 $195,458.75 5467%
Month Minimum Price Average Price Maximum Price Potential ROI
January $204,695.92 $214,134.25 $233,011.75 6536.6%
February $208,789.83 $218,114.50 $236,764.50 6643.5%
March $212,883.75 $222,094.75 $240,517.25 6750.4%
April $216,977.67 $226,075 $244,270 6857.3%
May $221,071.58 $230,055.25 $248,022.75 6964.2%
June $225,165.50 $234,035.50 $251,775.50 7071%
July $229,259.42 $238,015.75 $255,528.25 7177.9%
August $233,353.33 $241,996 $259,281 7284.8%
September $237,447.25 $245,976.25 $263,033.75 7391.7%
October $241,541.17 $249,956.50 $266,786.50 7498.6%
November $245,635.08 $253,936.75 $270,539.25 7605.5%
December $249,729 $257,917 $274,292 7712.4%
All Time $227,212.46 $236,025.63 $253,651.88 7124.5%

Between 2023 and 2050, Ethereum price forecast hints at a parabolic expansion. The average price of ETH in 2050 could be in the six-digit territory, roughly $126,482.21. Investors need to keep in mind that this forecast hints at Ether hitting a peak of $134K in 2050.

Here Are Four Reasons Why Ethereum Price is Struggling to Perform

  • Attracting high networth investors has been a failure despite the spot ETH ETF approval and can be attributed to Ethereum’s lack of catchy narrative.
  • Unlike ETH, Bitcoin ETF has been easy to sell to institutions due to its digital gold narrative. As a reuslt, BTC has siphoned liquidity away from ETH.
  • Solana, well-known as “Ethereum-killer,” has managed to onboard more retail than Ethereum ever did due to the ease of access, low transaction fees and easy on-ramping possibilities.
  • Solana’s popularity combined with the meme coin mania has left Ethereum in the dust, which is another reason why ETH price is down.

Regardless, the Ethereum’s market value could see a strong bounce if the spot ETH ETF notes inflows after US elections concludes on November 5. As of October 23, this metric continues to show massive outflows.

Spot Ethereum ETFs Have Zero Influence on ETH

The cumulative Ethereum ETF flows have been negative, showing that there are more outflows than inflows. The primary reason for this is Grayscale’s outflow, but a part of it could be the lack of allure ETH brings to traditional investors.

As of Wednesday, the cumulative total net inflow stands at $288 million, a slight improvement from yesterday’s -$500.79 million. On October 22, the spot Ethereum ETFs saw an inflow of $11.94 million ETH.

Spot Ethereum ETF
Spot Ethereum ETF

Frequently Asked Questions (FAQs)

1. Why is Ethereum's price crashing today?

Ethereum price today crashed 1.80% following Bitcoin's footstep, making it the third-consecutive day of downtrend.

2. How is Ethereum's current price-performance compared to other Bitcoin?

Ethereum's one-month performance is nearing zero after being up 6.37% on Tuesday. ETH's year-to-date returns show a 9% far lower than Bitcoin's 50%.

3. How will Bitcoin impact Ethereum price movement?

If BTC price continues its downtrend, ETH price will likely follow its footsteps as it has done over the past three days.
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

CoinGape prepared a review methodology to rate crypto exchanges, tools, and apps. We curated a list of metrics to evaluate crypto platforms based on their services, user experience, security and customer support, payment gateways and charges, pricing and promotions. Visit our Review Methodology page to learn more about how we review each crypto platform.

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.