#ETHOnTheRise As of today, December 2, 2024, Ethereum (ETH) is trading at approximately $3,605. This reflects a slight dip of 2.3% over the past 24 hours but aligns with its strong performance in November, where it saw significant price swings, including a peak at $3,709. Ethereum remains the second-largest cryptocurrency by market capitalization, valued at $432 billion, with a 24-hour trading volume of $36.49 billion. Its circulating supply is about 120 million ETH, and it continues to dominate the decentralized finance (DeFi) and non-fungible token (NFT) spaces as the leading platform for these applications.

Recently, Ethereum has benefitted from Layer 2 scalability solutions, enhancing its transaction speeds and reducing congestion, positioning it to process up to 100,000 transactions per second. However, it faces criticism for its high gas fees and centralization concerns among staking validators. Ethereum also sees competition from alternative blockchains like Solana and Binance Smart Chain, which offer faster and cheaper solutions. Despite these challenges, Ethereum's transition to a proof-of-stake (PoS) mechanism and its role in DeFi and NFTs suggest a strong potential for long-term growth.