Ether exchange rate to the dollar for all time: chart, price dynamics
It is impossible to make forecasts for the price of ether without taking into account the past performance of the value of the cryptocurrency. At the time of writing, the ETH rate was $3,770.74 (data from CoinMarketCap). Below you can see how the cost of ether has changed over all the years of its existence:
In January 2022, the ETH rate was around $1,300, and in April 2018 it fell to less than $400. This decline is explained by the hacking of the largest Japanese digital currency market, Coincheck. A fall in all electronic coins was observed until November. The total market capitalization of Bitcoin reached its lowest level since October 2017 – $1000, and the BTC rate was less than $4000, which contributed to a decrease in prices for all coins. After this, there was no improvement in 2018, and by the end of the year the price of ether dropped to $80.
Since June 2019, Ethereum has crossed the $300 mark. Bitcoin held its own against Ethereum. Perhaps the rise in ETH price was due to the rise of DeFi (decentralized finance). DeFi belongs to non-custodial financial products like decentralized stablecoins or lending products. The lion's share of DeFi protocols are based on Ethereum.
Ethereum failed to maintain its position and continued to decline in price throughout August 2019. But at the beginning of the month there was a small increase - ether rose from $211 to $231. In December of the same year, the electronic currency again showed a downward trend: at the beginning of the month, the US government arrested Ethereum developer Virgil Griffith for consulting with North Korea about using cryptocurrency to circumvent sanctions. In mid-December, the UK cryptocurrency exchange Coinfloor announced that it would remove Ethereum and Bitcoin Cash from the list of traded currencies.
It is interesting to know what the maximum Bitcoin rate has been for all time.
January 2020 was marked by an increase in ether to $290. On the day the WHO announced the global COVID-19 pandemic, ETH fell to $109, half of last year’s high. At the beginning of December 2020, the Ethereum 2.0 update appeared, the task of which is to increase the scalability and security of the network. Interestingly, the network will switch from Bitcoin's Proof-of-Work (PoW) consensus algorithm for block diagnostics and coin mining to Proof-of-Stake (PoS).
Already in January 2022, the cryptocurrency began to grow sharply. In January, the cost of the altcoin reached $1385.5, and after 5 months it was $4000. This sharp rise is due to the transition to the PoS protocol and the release of the update. The Ethereum ecosystem has become widely used among developers of decentralized finance (DeFi) applications, as well as in the sale of non-fungible tokens (NFTs).
But the price of ETH was unable to maintain the high level for a long time and returned to the March values. On May 19, the price of Bitcoin fell by more than 30% and reached a local minimum of $30,000. As a result, Ethereum also fell – but to $1,800.
This event directly influenced the transition of Ethereum to the PoS protocol. Today, Ether holders can independently confirm transactions in exchange for “interest” or receive a share of the proportional commission for transfers. The creator of the altcoin, Vitaly Buterin, states that this stage will reduce network energy consumption by 99%! If successful, this will provide an opportunity to effectively resolve Ethereum’s “environmental issues” and will entail a sharp rise in token prices.
But there is also another side to the coin. According to experts at the mining firm Compass, the profits of Ethereum miners will decrease by 20-30%. The London Protocol has already removed over 31,500 ETH tokens from circulation. And in 1046 blocks, the number of destroyed coins is already greater than those issued.
In August 2022, the price of Ether increased due to the new EIP (Ethereum Optimization Proposal), consisting of two elements. This innovation will allow ETH holders to pay lower fees for transfers. Moreover, approximately 3 million Ethereum tokens will be withdrawn from the market annually.
It is useful to find out what Russian cryptocurrency exchanges are.
Ethereum to dollar rate (ETH - USD)
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Ether to ruble exchange rate for all time: reasons for growth
Ethereum is considered by many to be Bitcoin's main competitor. Recently, revenue from ETH mining surpassed Bitcoin mining by almost $1 billion and reached a record high of $2.35 billion. This was influenced by the high transaction price on the blockchain in May and the maximum increase in the price of the altcoin. Since the beginning of 2021, the cryptocurrency price tag has increased by 350%.
Interest in the platform among institutional investors is growing every day; in addition, a new NFT format has appeared that runs on the Ethereum blockchain. The system continues to be updated, new updates are released regularly, and the technology becomes more secure thanks to the new Proof-of-Stake algorithm.
Many experts also talk about the growth potential of ETH compared to BTC due to the novelty of the blockchain. If Bitcoin is already over 10 years old, then Ether is only 5.
Let us remind you that we previously wrote about how profitable cloud mining of Bitcoins is.
Ether exchange rate in dollars: forecast for 2022
Ether can be considered one of the main contenders for the title of the main coin of 2022 for private investors. Analysts agree that this altcoin is expected to experience a long-term upward trend. However, the rate of ETH, like other digital coins, will depend on the price development of Bitcoin.
With the onset of the epidemic, the world went into hibernation for several months, which negatively affected electronic money. The BTC rate began to fall, losing up to 40% daily. But the situation quickly changed, and Bitcoin gave the crypto market the desired movement. There has been high growth since the summer (July-August), and analysts are confident that the peak is still far away.
While Bitcoin is leading and showing growth, Ethereum is following it. Ethereum will be able to rise in price in dollars due to the general increase in the value of the digital currency. The ETH/BTC rate will most likely decrease. But despite this, Ethereum is one of the key contenders for significant growth, since assets usually move from Bitcoin profits to large-cap altcoins, and then flow into lesser-known and small projects.
According to forecasts of experts and analysts, the ether exchange rate by the beginning of December 2022 will not be lower than $3,516. This is several times higher when compared to the price a year ago during COVID-19 (about $370). The price of ETH in US dollars increased from $732.73 at the end of December 2020 (BinanceUS data) to a maximum value of $4362.35 (May 12, 2022). It is believed that the reason for the increase was Elon Musk's tweets about the environmental difficulties associated with Bitcoin. And on May 23, the price of ether dropped sharply from $4,179.76 to $2,099.58.
Ethereum rate: expert forecasts
As mentioned earlier, the Ethereum rate is closely related to the Bitcoin rate. Due to the recent ban on mining in China (June 2021), BTC fell below $30,000. Ether fell next.
All Ethereum owners would like to see positive predictions come true. At the moment, almost 60% of analysts indicate that ether should be bought. Experts believe that the ETH rate will reach $4,500 per token by the end of the year. Moreover, by 2025, the cost of one ether token may consist of five-digit numbers. The most optimistic forecast from analysts showed that after 4 years ETH will reach $19.8 thousand.
BitBull Capital hedge fund COO Sarah Bergstrand also took part in the survey and reported that ETH will end 2025 at $100,000 per token. Bergstrand attributes the growth to system updates.
Co-founder of the publication Сrypto Head and cryptocurrency expert Adam Morris expressed his opinion, saying that by the end of the year the price of Ethereum could reach record levels. However, he does not believe that Ethereum will displace Bitcoin.
“Bitcoin occupies a position equivalent to gold in the market, and the majority of institutional investors view it as a store of value for fiat money,” Adam Morris expressed his opinion.
One of the founders of the investment corporation Guggenheim Partners, Todd Morley, does not agree with Adam’s opinion, believing that Ethereum has a much wider scope of application compared to Bitcoin due to smart contracts. It is on ETH that all the attention of the crypto market will be concentrated in the near future, Morley is sure.
And Goldman Sachs agrees that ether could eventually supplant Bitcoin. A leaked bank report states that there is an increased likelihood that ETH will emerge as a “dominant store of value asset.” The document reports that the cryptocurrency is called “the Amazon of information storage.”
Billionaire Mark Cuban predicted that with the release of Ethereum 2.0, the number of applications created on the blockchain could deprive Bitcoin of any weight in the crypto market.
Well-known crypto investor and founder of the investment company Galaxy Digital, Mike Novogratz, predicts that ether has a huge margin for growth:
“It is dangerous to make predictions on the maximum price of Ethereum. Will the token be able to grow to $5 thousand? Of course he can,” Novogratz shared his opinion.
Forecast from Long Forecast
Employees of The Economy Forecast Agency give an optimistic forecast. This web portal informs that Ethereum should exceed the $5,000 mark in September. And in December 2021, a slight decrease is planned for Ethereum. According to experts, the cost on the last day of December will be $4,440.
Forecast from Coin Price Forecast
Coin Price Forecast analysts make a more ambitious forecast for the development of ETH. Unlike Wallet Investor and Trading Beasts, experts expect the altcoin price tag to exceed $5,000. And by the end of the year, one token will be sold for $5,107.
Long-term outlook for ETH/USD: is it worth investing in cryptocurrency?
Why is the altcoin ether interesting from the point of view of investment in the world of cryptocurrencies in 2022? Ethereum and Ethereum 2.0 have been closely linked since December 2020. And on December 1, 2022, the broadcast was updated to version 2.0. The main difference between a coin is its scalability. The digital coin uses the sharding technique for this, allowing it to accelerate from an average of 30 to 100,000 transactions per second. This innovation significantly expanded the capabilities of the token.
Data from different analysts regarding the growth forecast for ETH differ. But all financial and cryptocurrency analysts are confident that there will be an upward trend in the future. According to the Wallet Investor web resource, the average price of Ethereum in 2025 will be $6,000. In mid-2030, the price will jump to $16,194, and by the end of the year – to $16,961. To summarize, Ethereum is an excellent investment for those who are not looking for quick profits, but are betting on stable growth in the long term.
Ethereum/USD
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