Ethereum

Today's state: Ethereum is trading at $1,573.16 with a $189.9 billion market capitalization (rank #2). The price moved -1.25% over the past 24 hours and is -5.79% over 7 days; the 30-day move stands at -12.34% and the 90-day at -26.61%.

Position vs cycle: Trading more than 50% below the all-time high places the asset in correction-territory deep enough that statistical mean-reversion historically gives way to narrative- and liquidity-driven moves.

Volatility and structure: 30-day realized volatility of 64.4% annualized is high for an asset this size. Our composite multi-horizon Price Strength reads Bearish (28/100), against a softening backdrop, with pressure stacking up over the 30- and 90-day windows.

Since the EIP-1559 upgrade in August 2021, a portion of every Ethereum transaction fee (the "base fee") is permanently destroyed rather than paid to validators. This makes ETH the only major crypto asset whose supply schedule is partially demand-driven — when on-chain activity is high, more ETH is burned; when activity is low, less is burned.

Over the trailing 30 days, the network has burned approximately 1,801 ETH ($3.0 million at current prices) — an annualized run-rate of 21,928 ETH, equivalent to 0.02% of circulating supply per year. The 7-day burn of 392 ETH and 24-hour burn of 43 ETH indicate the burn rate has slowed relative to the 30-day average.

Combined with the approximately 0.5% annualized PoS issuance to validators, the network currently sits net inflationary at the current activity level — burn is real but issuance is exceeding it. The ETH supply is therefore neither perfectly fixed (like Bitcoin) nor predictable on a fixed schedule (like most PoS coins) — it is a function of how much economic activity the chain hosts.

Looking past Bitcoin alone, how closely ETH tracks the next two biggest layer-1s over 90 days indicates whether it is mostly market beta or something more independent. The daily-log-return correlations:

• Bitcoin reference: +0.90 — a very strong positive relationship.
• Solana reference: +0.85 — a very strong positive relationship.

When an asset correlates strongly with multiple majors, it is trading largely as market beta — the big caps set the direction and standalone outperformance is elusive. Weak or negative correlations instead signal idiosyncratic forces (its own news, sector rotation, narrative changes) capable of producing returns the broader market does not share.

Ethereum (ETH) is a Layer-1 cryptocurrency, running on its own independent blockchain network. It trades at $1,573.16 as of the latest update, with a 24-hour move down 1.25%, placing it at rank #2 by market capitalisation among all listed digital assets. Ethereum's current market cap stands at $189.86B, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking Ethereum across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

Ethereum (ETH) is the world's largest smart-contract platform — a decentralized, programmable blockchain that hosts the majority of decentralized finance activity, the largest stablecoin float, and the most active developer ecosystem in crypto. Proposed by Vitalik Buterin in 2013 and launched in July 2015, Ethereum extended Bitcoin's base idea of programmable scarcity into a general-purpose computing substrate.

The native token ETH plays three roles: it is the gas that pays for computation on the network; it is the asset staked by validators to secure consensus; and it is increasingly treated as a yield-bearing reserve asset by sophisticated allocators (via liquid staking tokens like Lido's stETH).

ETH currently trades at $1,573.16, with approximately 25% of total supply staked into the consensus layer. Layer-2 rollups settle to Ethereum at growing scale, with collective L2 TVL frequently exceeding $30 billion across the major rollups.

Ethereum is a programmable blockchain secured by proof-of-stake consensus. Validators lock 32 ETH each as collateral, and the protocol randomly selects them to propose and attest to new blocks. Honest behavior earns staking rewards; malicious or negligent behavior is slashed — meaning a fraction of the staked collateral is destroyed. There are currently over 1 million active validators securing the network.

What makes Ethereum distinctive is the Ethereum Virtual Machine (EVM): a Turing-complete environment in which any developer can deploy smart contracts — programs that execute autonomously when their conditions are met. This is the substrate for the entire decentralized finance (DeFi) ecosystem, the dominant NFT marketplaces, decentralized autonomous organizations (DAOs), and a growing portion of stablecoin issuance.

Since the EIP-1559 upgrade, a portion of each transaction fee (the base fee) is permanently burned, making ETH structurally deflationary during periods of high network activity. Most retail transactions today happen on Layer-2 rollups (Arbitrum, Optimism, Base, zkSync) which post compressed data back to Ethereum L1, dramatically reducing cost.

Ethereum's use cases span every major sector of on-chain activity:

• DeFi. Lending (Aave, Compound), exchanges (Uniswap, Curve), derivatives (dYdX, GMX), and structured products. The vast majority of DeFi total value locked lives on Ethereum or Ethereum L2s.
• Stablecoin substrate. Most of the major stablecoins (USDT, USDC, DAI) circulate primarily on Ethereum. The chain effectively serves as the on-chain dollar settlement layer.
• Staking yield. ETH itself is yield-bearing through staking — currently around 3–4% APY paid in ETH. Liquid staking tokens like stETH and rETH let holders keep DeFi composability while earning the yield.
• NFTs and digital culture. The largest collections — CryptoPunks, BAYC, Pudgy Penguins, Azuki — all live on Ethereum.
• Layer-2 settlement. Optimistic and zk-rollups inherit Ethereum's security while delivering 10–100× cheaper transactions.
• Tokenized real-world assets (RWAs). Tokenized US Treasuries (BUIDL, USDY, ONDO) increasingly live on Ethereum, with institutional adoption accelerating.

To read Ethereum's tokenomics, look at the issuance schedule, the share of supply already in circulation, and the gap between market cap and fully-diluted valuation.

The question that matters for a longer-term view is simple: does value accrual (burns, staking-yield reinvestment, deflationary mechanics, growing ecosystem TVL) run ahead of new issuance, or behind it? Ahead, and price can compound quietly; behind, and it leans on continuous fresh demand to soak up the supply.

At the top of the macro stack sit interest rates, dollar liquidity and risk appetite, and crypto has tended to amplify all three. Easing financial conditions and a weaker dollar have historically pulled the sector up; tightening liquidity and a firmer dollar have reliably pulled it back down.

Several traditional markets serve as useful cross-checks: a strong dollar (DXY) has tended to weigh on crypto; rising 10-year Treasury yields raise the cost of holding risk; gold occasionally trades as a parallel hard-money hedge; and US equities frequently move in sympathy with crypto when the driver is liquidity rather than fundamentals.

For Ethereum specifically, the macro variable that has empirically led price most often is global crypto-market liquidity — proxied by stablecoin total supply, futures open interest, and exchange volumes. When these expand, ETH tends to follow; when they contract, the relationship typically reverses. Given the 90-day BTC correlation of +0.90, ETH's near-term macro sensitivity will be similar to Bitcoin's — driven primarily by the same liquidity conditions and risk-asset flows.

Risks specific to Ethereum as a programmable PoS network:

• Smart contract risk. Bugs in deployed contracts can lead to permanent loss of funds. The DeFi ecosystem has lost hundreds of millions of dollars to exploits over the years.
• Validator centralization. A handful of staking pools (notably Lido and the major exchanges) account for a large share of total staked ETH. Decentralization of the validator set is an active community priority.
• MEV (Maximal Extractable Value). Validators can reorder transactions for profit, potentially harming end users via sandwich attacks and other forms of front-running.
• L2 fragmentation. Liquidity and user experience are spread across multiple L2s. Cross-rollup interoperability remains an open problem.
• Regulatory uncertainty around staking. The classification of staked ETH and liquid staking tokens varies by jurisdiction and continues to evolve.
• Macro and volatility risk. ETH typically has higher beta than BTC and amplifies risk-asset cycles in both directions.