Ethereum Price Today

What determines the price of Ethereum?

Supply and demand determine the price of Ethereum. When there are more buyers than sellers, the price rises. When sellers dominate, it falls.

On the supply side, ether has no fixed maximum. Issuance is offset by the EIP-1559 base-fee burn, and about a third of all ether is staked, which reduces the trading float.

On the demand side, ether is what people pay to use the Ethereum network, so when more people use the network, demand for the coin increases. Demand also shifts with investor sentiment, macroeconomic conditions such as interest rates and inflation, global political events, and institutional adoption through spot Ethereum ETFs and corporate treasuries.

The current price of Ethereum reflects these changing factors in real time across global markets.

As of Oct 04, 2026, Ethereum is trading at $2,720.90, 1.20% over the past 24 hours, moving between a low of $2,684.92 and a high of $2,723.00 on Binance.US. Over the past 7 days the price has moved 1.61%, over the past 30 days 10.92%, and over the past year -39.28%. Ethereum's market capitalization stands at $332.23B on a circulating supply of 122.10M ETH, with $4.89B traded globally over the past 24 hours. These movements reflect the mechanics described above: demand meeting validator issuance that has no preset total, offset by the base fee destroyed on each transaction, and the broader macroeconomic backdrop. This is a dated read of current conditions, not a forecast. Binance.US does not publish price targets.

How Ethereum’s move to proof of stake changed its supply

Ethereum’s move to proof of stake cut new ether issuance sharply. Until September 2022, new ether was created by mining under proof of work. Since then, it has been created as a reward to validators who stake ether.

This change affects issuance, supply, and price. Less new ether entering the market each day means less supply meeting the same demand. The base fee destroyed on every transaction pulls in the same direction, since it removes ether from circulation.

Ether can no longer be mined because of this shift. Anyone searching for mining hardware or a mining calculator for Ethereum is looking for something the network stopped using in 2022. The equivalent today is staking.

Ethereum Classic is a distinct chain that still runs on proof-of-work. It trades as a separate asset with its own price.

How Binance.US prices Ethereum

Binance.US sets the Ethereum price based on real buy and sell orders from its own order books. [3] The quoted price is not an average from other exchanges.

Binance.US is a regulated U.S. cryptocurrency exchange operated by BAM Trading Services Inc. The exchange is registered with FinCEN as a money services business, licensed to transmit money in 32 states, and SOC 2 Type II audited. Binance.US keeps your assets in U.S.-based custody, most of them in offline cold storage under U.S. regulatory oversight.

The live ETH quote shows the rate at which you can transact right now, because it comes from real trades clearing on the platform, not from a reference number aggregated elsewhere. The rate updates continuously as new orders execute, so it stays in line with current market conditions on the exchange.

Binance.US is operated by BAM Trading Services Inc., a licensed and regulated United States cryptocurrency exchange platform that enables American residents to securely buy, sell, trade, and stake digital assets with fiat on-ramp capabilities, U.S.-based custody, and regulatory compliance. [4]

Ethereum’s all-time high and all-time low

Ethereum's all-time high is the highest U.S. dollar price the asset has ever reached. The all-time low is the lowest price. Both figures, along with their dates and the percentage the current price differs from each, appear in the stats above.

Typically, assets reach all-time highs after increases in network usage, institutional demand, among other factors. Price dips may occur based on similar factors.

A new all-time high registers only when a higher price actually trades on Binance.US, so the figure is always a verified high, not an estimate. Comparing the current price to the all-time high is one of the quickest ways to track where Ethereum stands in its broader cryptocurrency market cycle.

Ethereum market capitalization and circulating supply

Ethereum's market capitalization equals its price multiplied by its circulating supply. Ether ranks second by market capitalization, behind Bitcoin, and holds a significant share of the total cryptocurrency market.

Circulating supply is the amount of ETH currently available in the market. Because ether has no fixed maximum, supply shifts over time as new issuance is offset by the base-fee burn, in which a portion of fees for ETH transactions becomes unspendable and is effectively removed from the total circulating supply. Fully diluted valuation reflects total supply, and with no hard cap, that figure tracks closely to market capitalization.

Market cap is the standard way to compare cryptocurrencies because it captures scale and supply in one figure.

• Market capitalization is the total value of all circulating ether, calculated as the price multiplied by the circulating supply.
• Fully diluted valuation reflects the total supply of ether. Because ether has no fixed maximum supply, fully diluted valuation tracks closely to market capitalization. [1]
• Circulating supply is the amount of ether currently issued and available to the market. Ether has no fixed maximum supply, so there is no hard cap. [1]
• Dominance is Ethereum's share of the total cryptocurrency market capitalization.

Ethereum price history and key milestones

Ethereum's price history started with a crowdsale in 2014 [2], when ether sold for well under a dollar. The network launched in July 2015. Since then, the price has climbed through repeated cycles, reaching new highs and facing sharp drops.

Two protocol milestones reshaped Ethereum's economics. The 2021 EIP-1559 upgrade added a base-fee burn that destroys part of every transaction fee. The 2022 Merge upgrade moved the network to proof-of-stake, sharply cutting new issuance of ETH.

More recently, spot Ethereum ETFs received approval and corporate treasury holdings grew, bringing the asset further into mainstream finance.

For how Ethereum works as a technology, and how its supply mechanics work, see what Ethereum is.

Why Ethereum is sometimes called a stock

Ether is not a stock, though "Ethereum stock" is a common way people search for its price. A stock is a share of ownership in a company, carrying a claim on that company's assets and earnings.

Ether is the native asset of a public network. Holding it carries no ownership of a company, no claim on earnings and no shareholder rights, and no company issues it. New ether is created by the protocol as a reward to validators.

The confusion is understandable, because ether trades against the dollar, carries a market capitalization and can be held in a regulated account, which are all things a stock does too. What it lacks is the underlying ownership claim.

The practical difference for a reader checking a price is that there are no earnings, no dividend, and no company results behind the figure on this page. The price reflects what buyers and sellers agree ether is worth.