Why Ethereum Price is Rising Today? ETH is Up 0.55%, Trades at $2,534
Highlights
- Ethereum price today trades at $2,534 after rallying 0.55% on October 24.
- Investors can expect the uninspiring performance of ETH to cease if Bitcoin restarts the 2023 bull run.
- ETH could venture into the six-digit territory between 2030 to 2050.
Ethereum (ETH) price today today trades at $2,531.1 after hitting a daily high of $2,559.3 on November 10. ETH price is up 0.31% as of 11 PM.
Why Ethereum Price is Rising Today?
Ethereum price is following Bitcoin’s footsteps and is up 0.55% today. But the outlook for today is bullish, with BTC attempting a recovery bounce after Monday’s and Tuesday’s crashes. The price of ETH currently hovers at $2,534 as of October 24, 2024.
Will Ethereum undo the crashes from the past two days?
Why Ethereum Price Remains the Second-Largest?
*Ethereum price updated as of 11 PM.
Ethereum is well-known for its smart contract technology that propelled it to become the second largest crypto by market cap. While there were plenty of other Ethereum-killers, none have managed to dethrone ETH so far. However, this might change in the coming days since ETH price performance in the past year has been lackluster.
Historical Ethereum Price Performance
If you invested $10,000 in ETH at the start of 2024, it would be worth $10,100 today, i.e., Ethereum price is up only 10% in the past ten months, while Bitcoin is up nearly 60%. Regardless, the first-mover advantage in the smart contract sector is keeping in the second position with a market capitalization of $304.5 billion.
Ethereum’s Market Cap: The Second-Largest Cryptocurrency
Together, Bitcoin and Ethereum constitute roughly 70% of the total crypto market cap, which stands at $2.41 trillion. While Ethereum’s market cap stands at $304.5 billion, Bitcoin hovers around $1.15 trillion. If the bull run kickstarts after the US presidential elections in November, then this duo could capture an even bigger share of the crypto market.
Although Ethereum’s market cap has been slashed in half since its ATH of $571 billion, it overshadows other popular cryptos like Solana (SOL) and Ripple (XRP), whose market capitalization hovers around $78 billion and $30 billion.
ETH’s 24-hour Trading Volume
As expected of the second largest cryptocurrency by market cap, the 24-hour trading volume of Ethereum is relatively high and stands at $16.6 billion.
Binance, one of the largest cryptocurrency exchanges, is the largest contributor to this trading volume with 11% in spot trading volume and nearly 40% in perpetual trading volume.
Ethereum Network Upgrades & Why It’s Important
Being the second-best crypto is not a small task, the network has to remain equally robust. Ethereum does this through continuous network upgrades. This also improves the blockchain’s security and scalability.
The London hard fork is one such key upgrade that converted the Ethereum blockchain from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Though there were criticisms before the upgrade, very few argue that PoW was better than PoS. Since the London hard fork, ETH transactions have gotten faster, and fees have been slashed.
ETH Blockchain Upgrades Since 2020
Below is a list of key upgrades the Ethereum network received in 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
ETH Gas Price & Why it Matters
Since the London hard fork fees have been reduced drastically. The current average gas fee for sending a transaction on the Ethereum blockchain is 9.43 Gwei.
Gwei is a small tax paid to secure transactions on the Ethereum network. During a bull run, where there’s more value to be extracted on-chain and more participants, the gas fees tend to spike.
Ethereum Price Prediction: What to Expect from ETH?
The recent uptick in Ethereum price is due to Bitcoin. Although ETH is positively correlated to BTC, its performance over the past year has been uninspiring. The YTD returns for ETH hover around 10%, while BTC’s YTD returns stand tall above 50%.
Despite the bearishness of the short-term move, long-term Ethereum price prediction hints at a valuation of six digits per ETH.
2024 Performance of Ethereum Price
As of ‘November 10, here are some popular cryptocurrencies’ price-performance comparisons for the past year and one-month.
YTD Returns
- POPCAT +168%
- SUI +138%
- SOL +71%
Monthly Returns
- POPCAT +68%
- BTC +6%
- SOL +20%
- ETH -4%
Although Ethereum price today trades at $2,534, investors can expect a massive rally in 2024’s fourth quarter.
Ethereum Price Outlook For Next Week
| Date | Price | Change |
|---|---|---|
| November 09, 2025 | 3404.18 | -0.01% |
| November 10, 2025 | 3442.19 | 1.11% |
| November 11, 2025 | 3512.80 | 3.18% |
| November 12, 2025 | 3655.54 | 7.38% |
| November 13, 2025 | 3753.31 | 10.25% |
| November 14, 2025 | 3823.83 | 12.32% |
| November 15, 2025 | 3729.87 | 9.56% |
| November 16, 2025 | 3657.66 | 7.44% |
| November 17, 2025 | 3688.01 | 8.33% |
| November 18, 2025 | 3784.76 | 11.17% |
| November 19, 2025 | 3934.37 | 15.57% |
| November 20, 2025 | 4005.75 | 17.66% |
| November 21, 2025 | 4060.85 | 19.28% |
| November 22, 2025 | 4095.86 | 20.31% |
| November 23, 2025 | 4091.66 | 20.19% |
| November 24, 2025 | 4046.76 | 18.87% |
| November 25, 2025 | 4008.10 | 17.73% |
| November 26, 2025 | 3960.93 | 16.35% |
| November 27, 2025 | 3835.16 | 12.65% |
| November 28, 2025 | 3702.58 | 8.76% |
| November 29, 2025 | 3560.77 | 4.59% |
| November 30, 2025 | 3549.67 | 4.27% |
| December 01, 2025 | 3582.69 | 5.24% |
| December 02, 2025 | 3560.79 | 4.59% |
| December 03, 2025 | 3552.66 | 4.36% |
| December 04, 2025 | 3569.12 | 4.84% |
| December 05, 2025 | 3608.15 | 5.99% |
| December 06, 2025 | 3658.30 | 7.46% |
| December 07, 2025 | 3737.71 | 9.79% |
| December 08, 2025 | 3799.77 | 11.61% |
Based on CoinGape’s Ethereum price prediction, ETH could go up nearly 1% in the next week and trade around $2,612 on October 29, 2024.
Ethereum Price Forecast Between 2025 and 2029
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $3,638.36 | $4,100.10 | $3,869.23 | 13.6% |
| February | $3,468.88 | $4,104.34 | $3,786.61 | 11.2% |
| March | $3,299.41 | $4,108.58 | $3,704 | 8.7% |
| April | $3,129.93 | $4,112.81 | $3,621.38 | 6.3% |
| May | $2,960.46 | $4,117.05 | $3,538.76 | 3.9% |
| June | $2,790.99 | $4,121.29 | $3,456.14 | 1.5% |
| July | $2,621.51 | $4,125.53 | $3,373.52 | -1% |
| August | $2,452.04 | $4,129.77 | $3,290.90 | -3.4% |
| September | $2,282.56 | $4,134.01 | $3,208.29 | -5.8% |
| October | $2,113.09 | $4,138.24 | $3,125.67 | -8.2% |
| November | $1,943.61 | $4,142.48 | $3,043.05 | -10.7% |
| December | $1,774.14 | $4,146.72 | $2,960.43 | -13.1% |
| All Time | $2,706.25 | $4,123.41 | $3,414.83 | 0.26% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $2,381.13 | $4,578.41 | $3,689.56 | 8.3% |
| February | $2,988.12 | $5,010.10 | $4,418.69 | 29.7% |
| March | $3,595.11 | $5,441.79 | $5,147.82 | 51.1% |
| April | $4,202.09 | $5,873.48 | $5,876.95 | 72.5% |
| May | $4,809.08 | $6,305.17 | $6,606.08 | 94% |
| June | $5,416.07 | $6,736.86 | $7,335.22 | 115.4% |
| July | $6,023.06 | $7,168.55 | $8,064.35 | 136.8% |
| August | $6,630.05 | $7,600.24 | $8,793.48 | 158.2% |
| September | $7,237.04 | $8,031.93 | $9,522.61 | 179.6% |
| October | $7,844.02 | $8,463.62 | $10,251.74 | 201% |
| November | $8,451.01 | $8,895.31 | $10,980.87 | 222.4% |
| December | $9,058 | $9,327 | $11,710 | 243.8% |
| All Time | $5,719.56 | $6,952.71 | $7,699.78 | 126.1% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $9,393.58 | $9,679.08 | $12,045.17 | 253.6% |
| February | $9,729.17 | $10,031.17 | $12,380.33 | 263.5% |
| March | $10,064.75 | $10,383.25 | $12,715.50 | 273.3% |
| April | $10,400.33 | $10,735.33 | $13,050.67 | 283.2% |
| May | $10,735.92 | $11,087.42 | $13,385.83 | 293% |
| June | $11,071.50 | $11,439.50 | $13,721 | 302.8% |
| July | $11,407.08 | $11,791.58 | $14,056.17 | 312.7% |
| August | $11,742.67 | $12,143.67 | $14,391.33 | 322.5% |
| September | $12,078.25 | $12,495.75 | $14,726.50 | 332.4% |
| October | $12,413.83 | $12,847.83 | $15,061.67 | 342.2% |
| November | $12,749.42 | $13,199.92 | $15,396.83 | 352.1% |
| December | $13,085 | $13,552 | $15,732 | 361.9% |
| All Time | $11,239.29 | $11,615.54 | $13,888.58 | 307.8% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $13,563.08 | $14,047.67 | $16,309.92 | 378.9% |
| February | $14,041.17 | $14,543.33 | $16,887.83 | 395.8% |
| March | $14,519.25 | $15,039 | $17,465.75 | 412.8% |
| April | $14,997.33 | $15,534.67 | $18,043.67 | 429.8% |
| May | $15,475.42 | $16,030.33 | $18,621.58 | 446.7% |
| June | $15,953.50 | $16,526 | $19,199.50 | 463.7% |
| July | $16,431.58 | $17,021.67 | $19,777.42 | 480.7% |
| August | $16,909.67 | $17,517.33 | $20,355.33 | 497.6% |
| September | $17,387.75 | $18,013 | $20,933.25 | 514.6% |
| October | $17,865.83 | $18,508.67 | $21,511.17 | 531.6% |
| November | $18,343.92 | $19,004.33 | $22,089.08 | 548.5% |
| December | $18,822 | $19,500 | $22,667 | 565.5% |
| All Time | $16,192.54 | $16,773.83 | $19,488.46 | 472.2% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $19,526.50 | $20,213 | $23,522.92 | 590.6% |
| February | $20,231 | $20,926 | $24,378.83 | 615.8% |
| March | $20,935.50 | $21,639 | $25,234.75 | 640.9% |
| April | $21,640 | $22,352 | $26,090.67 | 666% |
| May | $22,344.50 | $23,065 | $26,946.58 | 691.2% |
| June | $23,049 | $23,778 | $27,802.50 | 716.3% |
| July | $23,753.50 | $24,491 | $28,658.42 | 741.4% |
| August | $24,458 | $25,204 | $29,514.33 | 766.5% |
| September | $25,162.50 | $25,917 | $30,370.25 | 791.7% |
| October | $25,867 | $26,630 | $31,226.17 | 816.8% |
| November | $26,571.50 | $27,343 | $32,082.08 | 841.9% |
| December | $27,276 | $28,056 | $32,938 | 867.1% |
| All Time | $23,401.25 | $24,134.50 | $28,230.46 | 728.8% |
If the US elections narrative triggers a BTC rally, it could send Ethereum and top altcoins flying. According to CoinGape’s forecasts, Ethereum will ride an explosive bull run between 2025 and 2030, with ETH prices hovering between $2,500 and $2,700.
In 2025, however, the smart contract token could auction around $3,300, with a potential gain of 76%. This bullish outlook can also be witnessed in the next five years with ETH price surpassing the current ATH of $4,864 and setting up a new one around $22,900.
Where Will Ethereum Price Be between 2030 and 2050?
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $28,417.17 | $29,249.08 | $34,130.33 | 902.1% |
| February | $29,558.33 | $30,442.17 | $35,322.67 | 937.1% |
| March | $30,699.50 | $31,635.25 | $36,515 | 972.1% |
| April | $31,840.67 | $32,828.33 | $37,707.33 | 1007.1% |
| May | $32,981.83 | $34,021.42 | $38,899.67 | 1042.1% |
| June | $34,123 | $35,214.50 | $40,092 | 1077.1% |
| July | $35,264.17 | $36,407.58 | $41,284.33 | 1112.1% |
| August | $36,405.33 | $37,600.67 | $42,476.67 | 1147.1% |
| September | $37,546.50 | $38,793.75 | $43,669 | 1182.1% |
| October | $38,687.67 | $39,986.83 | $44,861.33 | 1217.1% |
| November | $39,828.83 | $41,179.92 | $46,053.67 | 1252.1% |
| December | $40,970 | $42,373 | $47,246 | 1287.1% |
| All Time | $34,693.58 | $35,811.04 | $40,688.17 | 1094.6% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $42,748 | $44,175.33 | $49,253.67 | 1346.1% |
| February | $44,526 | $45,977.67 | $51,261.33 | 1405% |
| March | $46,304 | $47,780 | $53,269 | 1464% |
| April | $48,082 | $49,582.33 | $55,276.67 | 1522.9% |
| May | $49,860 | $51,384.67 | $57,284.33 | 1581.9% |
| June | $51,638 | $53,187 | $59,292 | 1640.8% |
| July | $53,416 | $54,989.33 | $61,299.67 | 1699.8% |
| August | $55,194 | $56,791.67 | $63,307.33 | 1758.7% |
| September | $56,972 | $58,594 | $65,315 | 1817.6% |
| October | $58,750 | $60,396.33 | $67,322.67 | 1876.6% |
| November | $60,528 | $62,198.67 | $69,330.33 | 1935.5% |
| December | $62,306 | $64,001 | $71,338 | 1994.5% |
| All Time | $52,527 | $54,088.17 | $60,295.83 | 1670.3% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $64,523 | $66,343.42 | $74,533 | 2088.3% |
| February | $66,740 | $68,685.83 | $77,728 | 2182.1% |
| March | $68,957 | $71,028.25 | $80,923 | 2275.9% |
| April | $71,174 | $73,370.67 | $84,118 | 2369.7% |
| May | $73,391 | $75,713.08 | $87,313 | 2463.5% |
| June | $75,608 | $78,055.50 | $90,508 | 2557.3% |
| July | $77,825 | $80,397.92 | $93,703 | 2651.1% |
| August | $80,042 | $82,740.33 | $96,898 | 2744.9% |
| September | $82,259 | $85,082.75 | $100,093 | 2838.7% |
| October | $84,476 | $87,425.17 | $103,288 | 2932.5% |
| November | $86,693 | $89,767.58 | $106,483 | 3026.3% |
| December | $88,910 | $92,110 | $109,678 | 3120.1% |
| All Time | $76,716.50 | $79,226.71 | $92,105.50 | 2604.2% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $92,565.75 | $95,806.17 | $113,497.58 | 3232.3% |
| February | $96,221.50 | $99,502.33 | $117,317.17 | 3344.4% |
| March | $99,877.25 | $103,198.50 | $121,136.75 | 3456.6% |
| April | $103,533 | $106,894.67 | $124,956.33 | 3568.7% |
| May | $107,188.75 | $110,590.83 | $128,775.92 | 3680.9% |
| June | $110,844.50 | $114,287 | $132,595.50 | 3793% |
| July | $114,500.25 | $117,983.17 | $136,415.08 | 3905.1% |
| August | $118,156 | $121,679.33 | $140,234.67 | 4017.3% |
| September | $121,811.75 | $125,375.50 | $144,054.25 | 4129.4% |
| October | $125,467.50 | $129,071.67 | $147,873.83 | 4241.6% |
| November | $129,123.25 | $132,767.83 | $151,693.42 | 4353.7% |
| December | $132,779 | $136,464 | $155,513 | 4465.9% |
| All Time | $112,672.38 | $116,135.08 | $134,505.29 | 3849.1% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $138,430.92 | $142,604.83 | $161,658.50 | 4646.3% |
| February | $144,082.83 | $148,745.67 | $167,804 | 4826.7% |
| March | $149,734.75 | $154,886.50 | $173,949.50 | 5007.1% |
| April | $155,386.67 | $161,027.33 | $180,095 | 5187.6% |
| May | $161,038.58 | $167,168.17 | $186,240.50 | 5368% |
| June | $166,690.50 | $173,309 | $192,386 | 5548.4% |
| July | $172,342.42 | $179,449.83 | $198,531.50 | 5728.9% |
| August | $177,994.33 | $185,590.67 | $204,677 | 5909.3% |
| September | $183,646.25 | $191,731.50 | $210,822.50 | 6089.7% |
| October | $189,298.17 | $197,872.33 | $216,968 | 6270.2% |
| November | $194,950.08 | $204,013.17 | $223,113.50 | 6450.6% |
| December | $200,602 | $210,154 | $229,259 | 6631% |
| All Time | $169,516.46 | $176,379.42 | $195,458.75 | 5638.7% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $204,695.92 | $214,134.25 | $233,011.75 | 6741.2% |
| February | $208,789.83 | $218,114.50 | $236,764.50 | 6851.4% |
| March | $212,883.75 | $222,094.75 | $240,517.25 | 6961.6% |
| April | $216,977.67 | $226,075 | $244,270 | 7071.8% |
| May | $221,071.58 | $230,055.25 | $248,022.75 | 7181.9% |
| June | $225,165.50 | $234,035.50 | $251,775.50 | 7292.1% |
| July | $229,259.42 | $238,015.75 | $255,528.25 | 7402.3% |
| August | $233,353.33 | $241,996 | $259,281 | 7512.5% |
| September | $237,447.25 | $245,976.25 | $263,033.75 | 7622.7% |
| October | $241,541.17 | $249,956.50 | $266,786.50 | 7732.8% |
| November | $245,635.08 | $253,936.75 | $270,539.25 | 7843% |
| December | $249,729 | $257,917 | $274,292 | 7953.2% |
| All Time | $227,212.46 | $236,025.63 | $253,651.88 | 7347.2% |
In the next 20 years, i.e., between 2030 and 2050, Ethereum price could undergo an expansion phase that pushes the price of ETH into the six-digit territory of $126,482.21.
Disclaimer:
Investors must take these long-term price predictions with a grain of salt since they tend to change with macroeconomic, regulatory, and geopolitical developments.
Ethereum vs. Bitcoin Price Performance in 2024
Bitcoin continues to dominate ETH with a YTD return of 60%, while Ethereum price sits at 10%. With the recent rally, however, things could work out well for ETH.
Why Ethereum Price Performance is Uninspiring?
Here are four key reasons why the ETH price has not shot up higher in comparison to BTC, SOL, or other cryptocurrencies.
- Ethereum struggles to attract institutional investors due to its lack of a compelling narrative, unlike Bitcoin’s “digital gold” appeal.
- Solana’s ease of access and low transaction fees lure retail investors, eclipsing Ethereum’s growth.
- Bitcoin ETFs draw institutional liquidity, leaving Ethereum in a dry spell.
- Solana’s meme coin frenzy creates millionaires, further overshadowing Ethereum’s price performance.
To make matters worse, spot Ethereum ETF, which was supposed to be ETH’s saving grace, has failed, which has further impacted ETH price performance.
Ethereum ETFs Drag ETH Price Lower
Ethereum ETF flows have been underwhelming since their launch, with no signs of improvement. This trend is expected to continue until the second week of November when the US presidential elections end.
The total net inflow for Ethereum spot ETFs dropped to -$487 million on October 24, with an inflow of $1.27 million on Wednesday.
Frequently Asked Questions
Why is Ethereum price up today?
How is ETH's performance in 2024 compared to BTC and other altcoins?
How high can ETH go in the future?
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