Ethereum (ETH) - 2023 and 2024 Price Rise Summary

2023: A Year of Recovery and Stability

Start (January 2023): Ethereum began 2023 at approximately 1,200 USD. The effects of the 2022 bear market lingered, and despite "The Merge" (Ethereum’s transition to Proof of Stake) in September 2022 improving energy efficiency, prices had yet to fully reflect this optimism.

First Half Rise: The first quarter saw a gradual recovery. By March 2023, ETH surpassed 1,500 USD, signaling stability. By June, driven by activity in DeFi (Decentralized Finance) projects and a slight NFT market revival, the price climbed to 1,900 USD.

Second Half Acceleration: During the summer, ETH fluctuated between 1,700-1,900 USD. In the final quarter, it gained momentum, fueled by renewed optimism in the crypto market and Bitcoin’s parallel rally. By December 2023, Ethereum reached around 2,300 USD.

Year-End Performance: Closing 2023 at 2,300 USD from a starting point of 1,200 USD, Ethereum achieved an approximate 91% increase. Volatility remained relatively low throughout the year, with ETH showing steady but less dramatic growth compared to Bitcoin.

2024: A Volatile Yet Promising Year

Start (January 2024): Ethereum entered 2024 at 2,343 USD, bolstered by a strong carryover from 2023 and optimism tied to Bitcoin’s upward trend.

First Quarter Movements:

In January, the price rose to 2,619 USD, a 11% increase.

However, February saw a market correction, with a 12% drop bringing it back to 2,303 USD.

May Peak: In May 2024, anticipation of Ethereum ETF (Exchange-Traded Fund) approvals ignited the market. The price jumped 13% to 3,500 USD, marking one of the year’s most notable surges. ETF speculation boosted institutional interest in Ethereum.

Summer Dip: During the summer, particularly in August, uncertainty and profit-taking in the broader crypto market led to a 22% decline, dropping ETH to around 2,700 USD. This was the largest monthly loss of.

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