Learn more about Ethereum, what it is, the current price, market cap and all the latest news. Visit Coin Culture for the latest Cryptocurrency news.
- Ethereum (ETH)
- Live Price $4,513.41
- Market Cap $542,773,384,876.23
- Volume $16,749,993,507.32
- Available Supply 120,330,645 ETH
- Rank 2
Please wait, we are loading chart data
More Info About Coin
Ethereum Price AUD
Cryptocurrencies are increasing in popularity worldwide with Bitcoin leading the charge. Many people know about Bitcoin and consider other cryptocurrencies, Altcoins. However, Ethereum is now emerging as a strong contender for the top spot in the crypto-verse. Currently the world’s second-largest cryptocurrency, Ethereum prices experienced tremendous growth in 2021 to the point that it outperformed Bitcoin. 1 Ethereum is currently valued at AUD 3730.
What is Ethereum?
Ethereum was created by Vitalik Buterin. The Russian-Canadian programmer was only 19 when he conceived the idea. Ethereum is a decentralized computing and cryptocurrency platform that allows developers to develop and implement decentralized applications. Developers, therefore, no longer have to depend on centralized platforms such as Google’s Playstore to develop and deploy their apps. Unlike centralized platforms that limit control and earning abilities, Ethereum gives developers complete control over their apps.
Ether, Ethereum’s native token, has received a great deal of interest over the years. Many investors buy Ether as it is a more affordable option than expensive Bitcoin.
Why is Ethereum’s Popularity Increasing
The increase in the price of Ether over the past few years is mainly due to the increasing support of developers who see Ethereum’s appeal for developing and running applications.
It should also be noted that NFT’s have begun to flourish over the past few years. A large section of crypto enthusiasts has increased their use of and investments in NFTs. A large section of the NFT market is hosted on the Ethereum platform. When people invest in NFTs, they tend to use Ether. The demand for Ether has therefore increased, contributing to the growth in value of the cryptocurrency.
Some experts argue that the increased value of Ether is just due to the cryptocurrency catching up to the growth of Bitcoin. Experts assert that the value of other cryptocurrencies follows the movements of Bitcoin. Bitcoin prices have been rising in the past few years and Ethereum appeared to be lagging all through. It is only recently that a surge in the price of Ethereum is being experienced. Some experts argue that this surge is due to the cryptocurrency catching up with the increase in price that Bitcoin experienced over the years.
Ethereum is also used in a wide variety of transactions including smart contracts. As more industries embrace the use of smart contracts to cut out the intermediaries, cryptocurrency continues to grow in popularity.
Unlike bitcoin which has a supply limit of 21 million bitcoins in total, Ethereum has an unlimited supply. However, a maximum annual supply of 18 million Ethers is set annually. This has contributed to the digital asset’s deflationary characteristics. Ethereum’s current circulating supply is 119.2 million Ether tokens. The unlimited supply of Ethereum however, has not had a negative impact on its value. The price of Ethereum continues to rise and is set to continue growing.