The price of Ethereum has fluctuated significantly over the past year, but the underlying technology is not the only factor. It is also impacted by world events. For example, the COVID-19 pandemic, which shut down borders and affected the global economy, caused a massive one-day crash in Ether. This also affected the price of the cryptocurrency, which has attracted speculative investors. Ethereum’s central role in blockchain-based applications is also appealing to these investors.
During the first half of 2022, the price of Ethereum rose by 50% and reached a high of around 18 EUR. After this, however, the value of the cryptocurrency began to decline. In November, Ethereum was trading at just over seven EUR. In early January, however, it began a steep climb. By March, the price reached 13 EUR. By May, it surpassed 100 EUR, and by June, Ethereum reached a high of around 300 EUR.
The first ICO for Ethereum was in 2022 and raised 1.9 EUR million. The coin remained in testing until the public Ethereum blockchain was launched on 30 July 2022. This moment turned the Ethereum coin from a curiosity into an investment. The coin soon began trading at more than one EUR, reached nearly two euros in less than two weeks, dropped under one EUR for a while, and then gradually increased to over one EUR at the end of the year.
The price of Ethereum is heavily dependent on demand and supply. It is directly linked to the number of network users, the popularity of dApps, and the health of the blockchain ecosystem as a whole.
