Getting a grip of the whole slew of changes that has affected Ethereum price throughout history can be a challenge in itself. In this article, we will have a concrete timeline of what happened from its inception up until how it is now.
The Humble Beginnings
Ethereum is a decentralized platform that helps enable smart contracts as well as DApps or Distributed Applications to be created and used without the downtime. This also helped in avoiding fraud. This was proposed in 2013 by Vitalik Buterin. Its development was crowdfunded in August of 2014 with it going live in July of 2015.
The Buzz in 2015
In the Beginning, Ethereum had a starting price of $0.42. A modest level at this stage. At the time, the use of blockchain, other than digital currency, was still very new. Not long after, the buzz about it grew exponentially. This was a direct result of its inherent potential beyond Bitcoin in general.
This pushed the price up to $1.39 right at the end of 2015. Many people saw Ethereum as a big innovative leap in blockchain technology, which could lead to many other uses. This was a vital moment in time that set the stage for Ethereum and its future growth.
The First Hard Fork and Price Surge
Right after the price ranging from %0.42 to $1.39 in 2015, Ethereum encountered one of its first and quite significant milestones to date. In 2016, it had its first hard fork and a big leap in price at $21.25.
This was a crucial moment as the hard fork that had reversed the loss of funds due to the DAO hack had garnered considerable attention within the entire cryptocurrency community, showing Ethereum’s immediate responsiveness to a variety of challenges.
Getting past $21.25
By 2017, a couple of years after its first hard fork and hitting $21.25, Ethereum had a significant turning point as it started to get mainstream attention. The immediate surge in popularity pushed its price to an astounding $881.94. Ethereum’s potential only grew across a variety of sectors in finance, tech, and governance.
This demand for decentralized applications contributed greatly with Ethereum’s surge in value. This, of course, further locked Ethereum as one of the leading cryptocurrencies during this era. The expansion of the Initial Coin Offering or ICO market, gave it a boost of growth as well during this time.
Breaking the One thousand Mark
Ethereum gained one of its most historical leaps in pricing in 2018 when it finally went past the $1000 mark. At $1,119.37, this milestone marked a substantial jump compared to its earlier values. Greatly showcasing the growing interest in investing within the cryptocurrency market.
There was an escalating demand for Ethereum. Indicating a turning point in its value trajectory even in the midst of all the other evolving trends of digital currency. Ethereum being able to reach past the one thousand mark highlighted its increasing significance in the world of cryptocurrency.
An Uneventful Year
Hitting a plateau in 2019, Ethereum still had somewhat of a stable year when it comes to prices that fluctuate between $102.93 and $361.40. 2019 had significant price surges that had led to a sense of stability compared to the past few years.
2019’s market analysis, had indicated that this period of consolidation and relative stability in price movements had set the stage for potential shifts for the coming years ahead.
The Effects Of The Pandemic
2020 brought on a wide array of changes even in the world of cryptocurrency. The outbreak of the coronavirus had the effect of widening the price range between $95.18 and $533. Basically, the whole pandemic had caused market volatility and a pronounced cryptocurrency price impact. This unfortunately included Ethereum. Investor sentiment shifted in response to the entire world’s economic uncertainty.
These fluctuations reflected the interconnectedness of global events with the cryptocurrency market, highlighting the need for adaptability and re-established the fact that the financial landscape is ever evolving.
2021’s All time High
By the time the year 2021 had rolled in, Ethereum had an immense surge in value by reaching $4,780.73. This was an unprecedented bull run and has greatly captivated the cryptocurrency market, solidifying the currency’s position as one of the leading digital assets today.
This increase in price was fueled by the ever growing institutional interest, DeFi or decentralized finance developments and basically all of the increase in adoption across a whole lot of industries. All of this reflected an increase in confidence in blockchain technology as well as decentralized applications such as NFTs. Ethereum revolutionized the traditional financial system at the same time, carefully shaping the future of digital currencies.
All in all, Ethereum, and its price history has been greatly influenced by its adoption and mainstream use. The more it was used for transactions as well as businesses, the demand for this cryptocurrency increased, which then led to the price surges.
