The Ethereum network has made the switch from proof-of-work mining to proof-of-stake mining. The transition was completed successfully on September 15, 2022. Additionally, the blockchain went through some major changes as the miners were replaced by validators.
Recently, the much-awaited Shapella upgrade went live, allowing these stakers to withdraw their staked Ethereum 2.0. Additionally, with numerous developments taking place on the Ethereum blockchain, let us learn about ETH a bit more.
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Ethereum in a nutshell
Vitalik Buterin built the decentralized blockchain platform Ethereum in 2015, along with the Ethereum Foundation, to support the development and execution of smart contracts and decentralized applications (dApps). Additionally, it has developed to become one of the biggest and most popular cryptocurrencies in the world. Ethereum is distinguished from Bitcoin by its programmability.
Ethereum has grown to accommodate a wide range of applications. Developers on the ETH network can design decentralized applications by using smart contracts, which are self-executing contracts with predefined rules. Over time, ETH has grown to be the second-largest cryptocurrency in the world.
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ETH price performance
Some of the early investors in ETH enjoyed a mind-boggling ROI. Early investors witnessed substantial rewards when the Ethereum coin, trading at $0.4209 in 2015, surged in value.
ETH touched an all-time high of $4,891.70 on November 16, 2021, according to CoinMarketCap data. Investors enjoyed an ROI of 64222.32%.
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How Many ETH Coins Are There?
According to CoinMarketCap data, the total supply of ETH stands at 122,962,330. The circulating supply of ETH also remains the same. Besides, the supply of ETH definitely plays an important role in its demand and price.
Over time, ETH has grown into one of the most prominent cryptocurrencies out there. Ethereum’s market capitalization stands at $224,826,187,564, ranking it as the second-largest crypto. Now that you have an understanding of the supply of Ethereum along with its market cap and price, it will help you make a wise investment decision.
Even though investing in a cryptocurrency requires more research than these key factors, these fundamentals provide a basis for making much wiser decisions.