The second-largest cryptocurrency by market cap, Ethereum (ETH), was created by programmer Vitalik Buterin and has weathered numerous market fluctuations. This article explores Ethereum’s price trajectory—its peaks, lows, and pivotal milestones—from its 2015 launch to 2023.
Ethereum Price History by Years
Ethereum, Bitcoin’s foremost competitor, introduced smart contracts—self-executing digital agreements—revolutionizing blockchain applications. Vitalik Buterin conceptualized Ethereum in 2013, and after a 2014 crowdfunding campaign raised 31,550 BTC, development began in earnest.
Key Features of Ethereum:
- Smart Contracts: Automate transactions without intermediaries.
- Decentralized Applications (dApps): Power industries like DeFi and NFTs.
- Ether (ETH): The native cryptocurrency fueling the network.
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ETH Price History: Network Launch (2015)
Ethereum’s blockchain debuted on July 30, 2015, with the Frontier protocol. By August 7, ETH traded at $2.77** on Kraken but plummeted to **$0.68 days later due to early investor sell-offs. A rebound to $1.80 by mid-August showcased volatile initial demand.
Milestones in 2015:
- First 100,000 blocks mined (August 18).
- DevCon-1 conference attracted IBM and Microsoft, boosting visibility.
- Year-end price: ~$0.90.
Ether Price in 2016: The DAO Hack and Hard Fork
ETH soared 10x by March 2016, hitting a $1B market cap**. However, the **DAO hack** in June drained **$50M, crashing ETH by 30%. A contentious hard fork in July birthed Ethereum Classic (ETC), while ETH stabilized at $7–9 by December.
2016 Price Drivers:
- Homestead upgrade (March): Improved stability.
- Ledger Nano S support (September): Price rose to $15.
- DDoS attack (September 22): Triggered a 2.5-month downtrend.
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Bull Trend in 2017: ICO Boom and $1,400 Peak
ETH’s 2017 rally was fueled by:
- eToro listing (February): Price surged to $13.
- BTC congestion: Investors flocked to ETH, pushing it to $95 by May.
- ICO mania: Projects raised funds in ETH, driving demand to $1,400 in January 2018.
Bear Market (2018–2019)
Post-ICO collapse, ETH plummeted 80% to $85** by November 2018. Recovery in 2019 stalled at **$300, ending the year at $145.
2020–2021: ETH 2.0 and All-Time Highs
- 2020: ETH surged 460%, hitting $1,200 amid DeFi growth.
- 2021: Berlin hard fork and ETH 2.0 staking propelled ETH to $4,891 (May 12).
Crypto Winter (2022) and 2023 Outlook
ETH crashed to $984** (June 2022) amid Fed rate hikes but rebounded to **$2,099 by April 2023.
FAQs
Q: What caused Ethereum’s 2016 price crash?
A: The DAO hack eroded confidence, dropping ETH 30% until a hard fork restored funds.
Q: How did ICOs impact ETH’s 2017 price?
A: ICOs used ETH for fundraising, creating massive demand and a $1,400 peak.
Q: Is ETH 2.0 affecting prices?
A: Yes—staking rewards and scalability upgrades bolstered 2021’s rally.
Final Thoughts
Ethereum’s price reflects its technological evolution and market cycles. For those eyeing ETH, strategic timing and platform choice matter.
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