Ethereum Price History: From 2015 to 2020
This article comes fromMedium, original author: Jeffery Hancock
Odaily Translator |
Odaily Translator |
The first version of the Ethereum protocol was called "Frontier" and was released on July 30, 2015. In fact, there was no concept of "Ethereum" at that time. While we can give some analysis and draw some conclusions about the value of Ethereum tokens based on the initial sales data from July 2014 to September 2014 (prices around $0.3-0.45), the price during that time period was not Not the most noteworthy thing about Ethereum, after all, the price is formed based on the transaction demand and supply ratio. However, just a month later, ethereum was listed on a cryptocurrency exchange for the first time, and ethereum is now the second largest cryptocurrency by market capitalization.
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2015: Ethereum takes its first steps
According to data from Etherscan.io, the first valuable transaction history of Ethereum occurred on August 7, 2015, when ETH was added to the Kraken exchange at a price of $2.77. But after three days, the price of ethereum had shrunk fourfold, falling to $0.68—the reason for such a large drop immediately after listing is likely to be the result of the rapid sell-off of the earliest investors.
In October 2015, when the price of Ethereum reached US$0.43, the downward trend was curbed, and then rose steadily to US$1.3. After three months of adjustment, the price basically consolidated in the range of US$0.8-1. During this period, more and more cryptocurrency enthusiasts began to gradually understand ETH. From November 9th to 13th, 2015, the first Ethereum developer conference Devcon was held. Representatives of industry giants such as IBM, Microsoft, and UBS all participated in this conference, and actively participated in discussions on the development of Ethereum. Made a special contribution to the popularization of Ethereum.
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2016: DAOs, hackers, and Ethereum Classic
On January 11, 2016, the price of Ethereum finally broke through the $1 mark again, and since that day, its price has never returned below $1 (Odaily Jun O-daily Note: At least as of this writing) of). In the following two months, the price of Ethereum has been rising rapidly. This is because there was news in the market that Ethereum will be upgraded to a more stable version of the network protocol (Homestead). On March 13, 2016, the price of Ethereum reached $15, which also made the market value of Ethereum exceed $1 billion for the first time. On March 14, 2016, Ethereum implemented the Homestead hard fork, which resulted in severe price fluctuations. Before the end of April of that year, the price of Ethereum fell twice until it fell to $7.3.
As the success of the DAO project was widely reported by the media, the price of Ethereum reached the next high point and reached the highest level in 2016: $20.6. The DAO project raised over 12 million ETH (approx. $150 million) as part of a token sale, a project that almost marked the dawn of the initial coin offering (ICO) era and defined the ICO The project chooses ETH to attract investors' funds.
But what happened next took many people by surprise and dealt a huge blow to Ethereum: Hackers exploited a vulnerability in the DAO code to steal an estimated $50 million from the project on June 16, 2016. ETH - The market began to panic, which also caused the price of Ethereum to drop to $11 in just two days, a drop of almost 50%. In fact, many people in the encryption community know that Vitalik Buterin, the co-founder of Ethereum, is very optimistic about the DAO project and is supporting the project in every possible way, which is one of the reasons why the price of Ethereum is affected. one.
In the next month or so, the community began to discuss Vitalik Buterin's proposal to restore the stolen funds by implementing a hard fork to restore the Ethereum network to its pre-attack state. In the context of these heated discussions, the price of Ethereum has also been greatly affected, resulting in increased volatility: a week after the DAO hacking incident, the price of Ethereum fell to $14.3, and then fell for a while. When the time came to July 2016 On July 7, the price of Ethereum has reached the support level of $10.
On July 20, 2016, Ethereum implemented a controversial hard fork, which led to the current Ethereum Classic (ETC) project. When Ethereum Classic was just launched, the price recovered to close to $15, but then it still did not get rid of the fate of falling, and returned to $8 in early August 2016.
On September 22, 2016, everyone knew that the Ethereum network was hit by a DDoS attack, which caused a significant drop in blockchain network performance. This incident also became the trigger for the price of Ethereum to fall again. As a result, it fell for two and a half months. When the time came to December 5, 2016, the closing price of Ethereum was only $6, and then until the end of the year, Ethereum prices are hovering between $7-9.
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2017: Here Comes the Amazing Bull Market!
Many people may not know that the "starting price" of Ethereum in early 2017 was only $8, but the price increased steadily throughout January and February of that year, reaching a price of $13. On February 23, 2017, Ethereum was added to the social trading platform "eToro" (eToro), which also became the seven points of Ethereum's faster growth. It is worth mentioning that on the same day, the number of unconfirmed transactions in the Bitcoin network reached 100,000, and more and more cryptocurrency investors believe that the Bitcoin network is too slow and out of date, so they start looking for other investments way, so they turned their attention to Ethereum.
In the first ten days of March 2017, Ethereum tried several times to break through the $20 resistance level, but the results all ended in failure and no substantial breakthrough was achieved. But in the following week, the price of Ethereum suddenly soared to $45 (the price even reached $55 on some cryptocurrency exchanges), and the average daily transaction volume even reached $450 million. In that month, the price of Ethereum was basically maintained in the range of 53-59 US dollars, and then adjusted continuously in the range of 40-50 US dollars.
On April 26, 2017, the price of Ethereum began to rise again, and the price almost doubled in just ten days. On May 5, 2017, the price of Ethereum soared to $95, and about the same day, the unconfirmed transaction volume of Bitcoin had exceeded 500,000 coins, and its network speed had become slower. One of the reasons is that many Miners have moved to the Ethereum blockchain.
However, Bitcoin was also in a growth phase in 2017, which also set the direction for the entire cryptocurrency market, and many cryptocurrencies followed Bitcoin at an alarming rate. On May 18, 2017, Ethereum was added to the AVATRADE trading platform, which also stimulated its price to a new height - in less than a month, the price of Ethereum rose fourfold (June 12, 2017 Today, the price of Ethereum reached $400), which means that if investors who bought Ethereum six months ago sold at this time, the return on investment will reach 50 times! Not only that, but Ethereum’s market capitalization as a percentage of the total cryptocurrency market has hit a record high at 31.5%, compared to just 4% in early 2017.
In addition to the above reasons, Ethereum has also become widely used in the crypto community and dApps developer environment, the increase in demand for Ethereum tokens in initial coin offering projects (many projects have chosen ETH as payment during their token sales) The main cryptocurrency), these factors have contributed to the rise in the price of Ethereum.
After such a rapid increase in price, there was a natural correction as regulators began to focus on and “crack down” on ICOs. As a result, the price of Ethereum fell for a month. On July 16, 2017, the price of Ethereum fell back to $150, but soon there was a new wave of growth. On September 1, 2017, the price of Ethereum fell again. Back to the $400 high. But then there was a correction for two consecutive weeks, especially after the release of the "94 Encryption Ban", initial coin offerings and cryptocurrency transactions were banned in the Chinese market, causing the entire cryptocurrency market to plummet, and Ethereum also closed at 50%. $200.
On December 11, 2017, the price of Ethereum entered the last growth phase since 2016, during which it reached the level of $800. Furthermore, like most other cryptocurrencies on the market at the time, Ethereum prices corrected as Bitcoin prices experienced an 80% correction, briefly dropping to the $500-$600 range, and by the end of the year There are multiple hopes of breaking the $750 level.
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2018: Bears conquer the Ethereum market
From the first day of 2018, the price of Ethereum began to soar "crazily". Yes, "crazy" is not an exaggeration. On January 13, 2018, the price of Ethereum reached an all-time high of $1,400. Of course, during this period, the prices of most altcoins also rose in tandem, and some also reached all-time highs.
But soon, as the price of Bitcoin began to pull back, the market "thrill" began to wane. Although the price of Ethereum rose briefly on January 28, 2018 and hit the $1,250 mark, it then fell rapidly. One of the main reasons for the decline in the price of Ethereum at that time was the impact of the decline in the price of Bitcoin, and it followed this downward trend throughout 2018.
On February 5, 2018, Ethereum saw its first rebound of the year from the price of 700 US dollars, and the price once rose to 900 US dollars. On February 14, 2018, Ethereum developers announced that the Ethereum Go Iceberg client was about to be released. As soon as the news came out, the price of Ethereum rose slightly, and on February 18, 2018, it reached a price of $1,000. But since then, the price of Ethereum has been falling until April 2018, when it last fell as low as $380. From this level, the last major Ethereum price rally in 2018 was on April 12, 2018, when the price recovered to $500.
The rise triggered a wave of growth, but it didn't last long, and by May 5, 2018, the price of Ethereum rose to $830, but then it has been in a steady decline until mid-September (with a small rebound).
While initial coin offerings spurred a rapid rise in the price of Ethereum in 2017, they have had a hugely negative impact on Ethereum throughout 2018. A large number of initial coin offering projects began to dump Ethereum tokens, causing the price of Ethereum to fall much faster than other cryptocurrencies, and once fell to around $180 in September 2018, but then stabilized at The price range of 200-300 US dollars was dropped, and it was maintained until mid-November 2018. At this time, the Ethereum community hopes to maintain the price level. At the same time, the news about the Constantinople hard fork in November also gave the market some positive signals.
At the end of 2018, the price of Ethereum rose slightly, basically maintaining at 130-140 US dollars, which also means that compared with the historical high of 1400 US dollars set in January 2018, the price of Ethereum in 2018 was at It has dropped 10 times during the year.
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2019: Tentative signs of price recovery
According to CoinMarketCap data, in the first week of 2019, the market value of Ethereum returned to the second place, when the price of Ethereum was about 160 US dollars. During this time period, almost all cryptocurrencies have no price action of their own at all, basically keeping pace with the price action of Bitcoin, and the cryptocurrency community is not very convinced that there will be any possibility of reversal, and most people in the industry believe that The market will shrink further.
After that, as the price of Bitcoin saw another small correction, Ethereum followed suit and fell to $100 on February 7, 2019. From that moment on, the value of Ethereum seems to have come to an upward channel, rising to two small highs of $160 and $180 for a short time. Immediately afterwards, on February 28, 2019, the Constantinople hard fork was finally implemented in the Ethereum network, but this incident did not seem to have much impact on the price.
In early April 2019, the price of Bitcoin suddenly rose by about $1,000, but Ethereum, like other cryptocurrencies, did not keep pace with Bitcoin's price action and continued to move in a descending channel. However, when the time came to May 11, 2019, the price of Bitcoin rose by about $1,000. At this time, the cryptocurrency market believed that the "winter" had passed, and the price of Ethereum also began to rise sharply. It only took five days It broke through the $280 mark.
At the time of writing, the price of Ethereum was around $138.91, up 3.26% in 24 hours, according to data from CoinMarketCap.
