As of mid-July 2024, Ethereum (ETH) is trading at approximately $3,468 USD. The cryptocurrency has experienced a 1.37% increase in trading volume over the past 24 hours and a significant 13.18% increase over the past week, indicating heightened market activity and interest .
Ethereum's market cap currently stands at around $417.13 billion, with a circulating supply of 120.22 million ETH. It remains the second-largest cryptocurrency by market capitalization, primarily due to its pioneering role in enabling decentralized applications (DApps) and smart contracts.
Ethereum's recent price movements can be partly attributed to ongoing upgrades and developments within its ecosystem. Notable updates include the Shanghai upgrade, which allows users to unstake their previously locked ETH from the Beacon Chain, and the ongoing efforts to improve scalability through layer-2 solutions and sharding .
