Ethereum (ERC20) FAQ:
So, what is Ethereum and specifically, what is ERC-20? In a few words, ERC-20 is a technical framework that brings its own standard rules for tokens on the Ethereum ecosystem. It was proposed back in 2015 and was integrated through the ETH Improvement Proposal (EIP-20). Now, this token governs aspects like coin transfers, total token supply, and transaction approvals. Plus, developers use ERC20 to program new cryptos, predicting how they will function and interact.
You can carry out ETH mining either solo, where you mine independently, or by joining a mining pool. Solo mining is all about mining independently, where you're responsible for sniffing out new blocks, verifying transactions, and earning the whole block reward.
Mining an ERC20 token through pools lets miners unite their resources, enhancing their chances of solving blocks with the support of others. By combining power, pools solve blocks more regularly and distribute rewards among members.
Here is a quick guide that will help you buy Ethereum crypto right away:
- Create an Account. Pick a reliable exchange platform and register by providing your details.
- Deposit Funds. Once your account is ready, add a safe payment method and top up your balance.
- Find ETH. Now, go to the trading page, click “Buy”, check available Ethereum prices, and pick your preferred option.
- Purchase. Then, fill in the amount you want to buy, deposit the required money, and get your coins.
You can then create a wallet within the exchange you selected and send/receive ETH directly without buying it for fiat currency first.
If you have already decided to buy one of the coins from the ERC20 tokens list, here are several places to consider:
- Direct Purchase. You can get ETH directly from another person online.
- ATM. If you see a crypto ATM nearby, you can buy coins there, but not all ATMs sell ETH. The process can be a bit complex, and ATM rates tend to be higher.
- Exchanges. You can purchase tokens built within the Ethereum ecosystem through decentralized and centralized exchanges like Binance, Coinbase, etc.
The price of cryptocurrencies can change in the blink of an eye. Even if they go up and explode in the market today, there is no guarantee that tomorrow we won't see the opposite picture. This means the price of Ethereum, like others, is not fixed and can change momentarily.
But in any case, it is the second largest crypto token after Bitcoin. As of June 26, 2024, the price of ETH exceeded the threshold of approximately $ 3,393.58 per token with a market capitalization of $ 407.83 USD billion.
The rise in Ether leaving crypto exchanges has matched the Ethereum price increase, showing less selling pressure as more people prefer holding ETH in private wallets. For instance, the official ETH staking address has consistently grown since its launch in December 2020, now holding over 46.418 million ETH as of June 2025. And this trend of Ethereum value increase continues despite its Shanghai upgrade in March 2023, which removed the need for ETH stakers to lock their tokens indefinitely.
The switch to PoS and the upcoming Danksharding upgrade is expected to boost Ether's protocol massively. And Ethereum coin price can surge if these upgrades empower the network to scale effectively and gain widespread adoption.
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It's anticipated that ETH will have the chance to reach a new peak of $3,582 by the end of 2024. And it can hit an all-time high between $20,647.23 and $26,575.21, with an average of around $23,563.01 based on Ethereum price prediction 2030.
Participants in ETH staking have multiple options:
- Solo Staking. This is the most secure option where you stake 32 ETH on your own.
- Staking Pools. You can join a pool with any amount of ETH, which collectively forms a node of 32 ETH.
- Staking-as-a-service. This is the least secure option for staking in Ethereum meaning it involves trusting a service provider. You delegate your ETH to them and rely on them to act honestly when managing your stake.
A crucial aspect of buying ETH is understanding how to track its price. Monitoring helps investors make informed decisions on when to buy or sell. Also, pay attention to events and news that could influence Ether's price, like upgrades or regulatory shifts. This helps in predicting whether the price will rise or fall. After you buy your desired amount of tokens, you should store them in a safe ERC20 wallet and keep your private keys in a secure place.
One of the main factors that help determine whether ETH is going up or down is the total number of coins circulating globally. As of now, there are about 120.2 million ETH coins circulating in the market. Ether's supply has fluctuated over time, originally growing steadily but shifting to a slightly deflationary trend in September 2022. This happened after transitioning to Proof-of-Stake with The Merge upgrade.
The drop in the Ethereum price now can be related to several main reasons. Firstly, there's anticipation around a massive Federal Reserve interest rate decision and the release of U.S. inflation data, causing market uncertainty.
Investors tend to be cautious in response to these economic indicators, which leads to reduced buying activity. Plus, major ETH holders are displaying less inclination to accumulate more coins, which adds to the selling pressure in the Cryptocurrency Market.
Even though the Ethereum price today is more or less stable, ETH, as the second-largest crypto, is projected to continue its upward trend and reach new highs in 2025. Over the past year, Ether's price has surged by an impressive 106%. This strong growth underscores high demand and strong investor confidence in the token. And with growing adoption and increasing demand for this coin, there's potential for the Ethereum price prediction of a new all-time high at $14,925 to come true.