The Ethereum digital token has grown by 25,400% since its launch

The Ethereum digital token ETH $3,590.04 Bridged Ether (StarkGate) -1.87% Market capitalization $0.32 billion VOL. 24 hours $2.5 billion and the entire cryptocurrency community are celebrating the project’s 9th anniversary. According to CoinGecko, the price of Ethereum has grown significantly since its launch in 2015. After the creation of the genesis block on July 30, the asset appeared on the market at $ 2.77, but by August 10, its value dropped to $ 0.68.

A year later, on July 30, 2016, the coin’s price rose to $ 13. In the following years, the cryptocurrency experienced many ups and downs. In 2024, the ETH rate reached $ 3319, which demonstrates an increase of 25,400% since 2016 and 76.4% since 2023.

According to CoinMarketCap, on the last day of July, the leading altcoin was trading at $ 3,318 with a market capitalization of $ 399.3 billion. Traders made daily trading deals with the coin worth $ 13.7 billion. Ethereum’s market share amounted to 16.7%.

Ethereum has become a key innovation in the cryptocurrency sector. The network, launched by Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin, offered not only digital currency but also a platform for implementing smart contracts and decentralized applications. These features have significantly expanded the technology’s capabilities, making it applicable in various fields such as finance, logistics, art, etc.

Ethereum developers are actively implementing updates to improve the network. The transition to Ethereum 2.0 is aimed at increasing scalability and security, and the introduction of the PoS mechanism instead of PoW has significantly reduced the network’s energy consumption, making it more environmentally friendly.