Present market panorama as of October 2024, ETH is buying and selling at round $1600. That is decrease than its information in November 2021 the place Ethereum rose to a median of $4,774. Nonetheless, Ethereum invariably has worth on account of its significance to decentralized finance (DeFi), non-fungible tokens (NFTs), and different Web3 companies.
The transfer to Ethereum 2.0, which was realised in September 2022 centered on shifting away from Proof of Work to Proof of Stake, which has made Ethereum’s vitality consumption lower by greater than 99%. Regardless of the Merge’s potential, costs didn’t instantly surge, largely on account of broader market downturns pushed by inflation, rising rates of interest, and financial instability.