About Ethereum Price
Since the launch, Ethereum price has undergone many ups and downs. Listed on exchanges in August 2015, Ethereum’s trading started at $2 and it crossed $3 for some time. The Ethereum price flatlined following this and did not exceed $2 and closed at $0.9 for the year. In 2016, the price of Ethereum rose to an all-time high in mid-June to $20. But by the end of the year, the price collapsed to $8. In 2017, Ethereum saw a great surge in its popularity. Starting at $8, it reached its all-time high, which was $840 and closed at $740 for the year. In 2018, it touched $1360, another all-time high. In 2019, the price again collapsed at $336, the high of the year. And presently in 2020, it has recorded its high of $251 to date.
Is It Just Like Bitcoin?
Ethereum is the most famous digital token in the market after Bitcoin. Ethereum is similar to Bitcoin in many ways. Both of them are digital currencies traded through online exchanges and are stored in cryptocurrency wallets. Both the tokens are decentralized and use blockchain, a distributed ledger technology. Still, both of them differ technically. A major difference between them is the block time, i.e., Ethereum transaction gets confirmed within seconds while it takes minutes for Bitcoin. Ethereum runs on the Ethash algorithm while Bitcoin runs on SHA-256. Moreover, while Bitcoin is a medium to exchange used to store a value, Ethereum is a platform that facilitates programmatic, immutable contracts through its currency. Ethereum is a use-case for the blockchain which supports the Bitcoin network. Thus, it should not be compared with Bitcoin theoretically. The Ethereum ecosystem is small than that of Bitcoin as can be witnessed in 2020.