Ethereum (ETH): price, market cap and how it did against Bitcoin
Bottom line
Ethereum (ETH) closed at $2,424.61 on 4 November 2026, with a market capitalisation of $276.8B (rank 2). On 30 October 2026 it was above its 200-day average of $2,158.48, which is rising. Over 90 days it is 1.5 percentage points behind Bitcoin. Layer 1 as a theme is -1.3% against Bitcoin over 13 weeks.
Price
$2,424.61
as of 2026-11-04
Market cap
$276.8B
snapshot 2026-11-04
vs Bitcoin · 90d
−1.5 pts
as of 2026-10-30
30-day median volume
$8.5B
as of 2026-10-30
What it is · from the data we hold
What is Ethereum (ETH)?
Ethereum (ETH) is a crypto token that CoinGecko lists under smart contract platform, layer 1 (L1) and proof of stake (PoS). We place it in the Layer 1 theme, with 73 coins. Its highest daily close since 12 November 2021 was $4,831.35 on 22 August 2025; its lowest was $993.64 on 18 June 2022.
01 · the tape, against its benchmark
How has Ethereum moved against Bitcoin?
Ethereum is -41% over one year, +21.8% over 90 days and -16.3% over 30 days. Annualised 30-day volatility is 36%. Its deepest fall from a high inside the last 90 days is 19%. It trades above its 200-day average, which is rising.
ETH · rebasedBitcoinLayer 1 · equal weight
All three lines rebased to 100 at the first week each has data. Bitcoin is the opportunity-cost benchmark for crypto risk; the theme line is its equal-weight index of current rated members.
02 · returns, volatility and drawdown
What do Ethereum's returns and risk look like?
7 days-6.0%
30 days-16%
90 days+22%
180 days-3.3%
1 year-41%
30-day volatility36% annualised
Deepest 90-day fall19%
200-day average$2,158.48 · above · rising
50-day average$2,525.83
03 · what the protocol actually earns
Does Ethereum generate fees or revenue?
Ethereum publishes 3 of the six network-economics series this site tracks: network fees, active addresses, transactions. Network fees over the last four complete quarters is $203.8M. Network activity is evidence about the protocol, not earnings owed to the token. Readings run to the Q3 2026 quarter.
Fees, last 30 days$22.5M
Revenue, last 30 days$7.6M
Fees, last 90 days$48.7M
Revenue, last 90 days$15.0M
Paid to token holders, last 30 days$7.6M
Paid to token holders, last 90 days$15.0M
Active addresses a day, 30-day average494,243
Transactions, last 30 days52,092,523
Source: DefiLlama, daily figures summed to 2026-10-30. Fees are what users paid; revenue is the part the protocol keeps. Paid to token holders is the share of revenue DefiLlama counts as going to holders, through buybacks, burns or staking payouts. Active addresses and transactions are for the Ethereum network itself. Fees here are the network fees paid to use Ethereum.
Network fees20 of 20 quarters
Last four quarters$203.8M-79%
Active addresses20 of 20 quarters
Latest quarter530,634+2.6%
Transactions20 of 20 quarters
Last four quarters748,763,085+53%
Network fees
Active addresses
Transactions
Complete calendar quarters only. A blank quarter is unavailable, not zero. Network activity is evidence about the protocol, not earnings owed to the token.
04 · exact additive research priority
What does the evidence say about Ethereum?
Ethereum scores 59.7 out of 100 inside Layer 1, ranked 10 of 64 rated coins on 79% evidence. The four displayed point contributions add exactly to the total; missing evidence pulls only the affected factor toward neutral and lowers its stated coverage. It ranks research attention within one theme, never portfolio action, and it is not comparable across themes.
What it means: The readings disagree, so the score says little either way.
20.6/35Price leadership
vs Bitcoin (90 days): −1.5 pts · vs its theme (30 days): +0.7 pts · above its 200-day average
100% evidence
14.6/30Usage growth
Fees -79.3% · revenue — · users 2.6%
63% evidence
10.3/20Value capture
Fee yield 0.07% · revenue yield —
50% evidence
14.2/15Liquidity & risk
Typical daily trading: $8.5B · price swings: 35.5% a year
100% evidence
This weakens if: The read weakens if 90-day strength against Bitcoin falls below zero with two weekly closes below the 200-day average, or native activity contracts for two complete calendar quarters.
No valuation section exists on this page, for any coin. There is no company-style P/E or PEG for a token, and historical market capitalisation is not held at all, only a dated current snapshot, so no ten-year valuation band can be built honestly. Where a protocol publishes fees or revenue, the yield against that dated snapshot is shown above instead.
05 · the theme it competes in
How does Ethereum compare with other Layer 1 coins?
Ethereum is one of 73 Layer 1 coins here, 64 of which carry enough evidence to be rated and ranked. Ethereum ranks 10 of those 64 on 79% evidence. The table below is the theme's own scorecard, in its own order, with this coin marked.
The Layer 1 scorecard in its own order, with this coin marked. Scores are within-theme and are not comparable with coins in another theme. See the full Layer 1 page.
Which coins are closest to Ethereum in market cap?
Ethereum is number 3 by market cap among the 604 coins with a page on this site. The 2 just larger and the 6 just smaller are listed here, each with its theme, so the comparison crosses themes. Market cap is the snapshot dated 2026-11-04.
This page names 5 ways its own evidence about Ethereum can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Price runs through 2026-11-04; market capitalisation is a separate snapshot dated 2026-11-04.
Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market capitalisation is a dated snapshot, not a point-in-time historical supply series, so yields computed against it inherit that lag.
No valuation band exists for any coin: historical market capitalisation is not held at all.
Funding rates, open interest, liquidations, exchange flows, unlock schedules and developer activity are not held and are not inferred.
The research score is relative to this coin's own theme only. It is not comparable across themes and is not an entry signal.
Price and technicalsPrice through 2026-11-04; moving averages and returns through 2026-10-30, from exchange closes; moving averages are computed, never scraped.
Protocol activityThrough 2026-10-30, for the series this token publishes.
Market capSnapshot dated 2026-11-04; no historical supply series is implied.
Decision useResearch priority within one theme. Not entry, exit, sizing or leverage instructions.
Questions the page should answer directly
Crypto analysis FAQs
These 9 answers cover the questions this page can settle from data it holds: what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.
What is Ethereum (ETH)?
Ethereum (ETH) is a crypto token that CoinGecko lists under smart contract platform, layer 1 (L1) and proof of stake (PoS). We place it in the Layer 1 theme, with 73 coins. Its highest daily close since 12 November 2021 was $4,831.35 on 22 August 2025; its lowest was $993.64 on 18 June 2022.
What is the market cap of Ethereum?
Ethereum's market capitalisation is $276.8B, ranking it 2 in the top-1,000 crypto universe, read on 4 November 2026. It is refreshed separately from the daily price.
Is Ethereum beating Bitcoin?
Over 90 days Ethereum is 1.5 percentage points behind Bitcoin: its own return minus Bitcoin's. Its theme, Layer 1, is -1.3% against Bitcoin over 13 weeks. Ethereum trades above its 200-day average as of 4 November 2026.
What is Ethereum's highest price?
The highest daily close we hold for Ethereum is $4,831.35, on 22 August 2025, in records from 12 November 2021. The lowest is $993.64, on 18 June 2022. The close on 4 November 2026, $2,424.61, is 50% below that high.
Does Ethereum have a P/E ratio?
No. There is no company-style P/E or PEG for a crypto token, and no valuation band is shown on this page because the data to build one honestly does not exist: historical market capitalisation is not held, only a current snapshot. Where a protocol publishes fees or revenue, this page shows the yield against that dated snapshot instead.
What is Ethereum's research score?
59.7/100 within Layer 1, ranked 10 of 64 rated Layer 1 coins, on 79% evidence: 20.6 + 14.6 + 10.3 + 14.2 = 59.7. It is labelled “Mixed”. The score ranks research attention inside one theme, never portfolio action.
How much Ethereum history does this page show?
Five years of weekly closes where they exist, plus 20 complete calendar quarters of on-chain activity for the metrics Ethereum actually publishes. Here that is network fees, active addresses, transactions.
How much did Ethereum earn in the last 30 days?
In the 30 days to 30 October 2026, DefiLlama shows $22.5M of fees and $7.6M of protocol revenue for Ethereum. Over 90 days: $48.7M of fees and $15M of revenue. Fees are what users paid; revenue is the part the protocol keeps.
Does Ethereum generate network fees?
Ethereum's trailing twelve-month network fees is $203.8M, down 79.3% on the year-earlier period. Network activity is not token-holder earnings: whether it accrues to the token depends on the protocol's own burn, buyback and distribution rules.