Ethereum turns 9 with a $400B market cap and 2.45B transactions Ethereum turns 9 with a $400B market cap and 2.45B transactions
In the nine years since its launch, Ethereum processed billions of transactions and remains a pivotal force in the crypto industry.
1 min read
Updated: Jul. 30, 2024 at 3:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum is celebrating its ninth anniversary today.
The network, launched on July 30, 2015, was co-founded by several prominent crypto stakeholders, including Vitalik Buterin, Polkadot’s founder Gavin Wood, Consensys CEO Joseph Lubin, and Cardano’s founder Charles Hoskinson.
Since then, it has become the second-largest blockchain with a huge ecosystem that has birthed many copy-cats. According to Etherscan, the network has processed 2.45 billion transactions in 20.4 million blocks during its nine-year history.
Dune Analytics data reveals a more comprehensive picture, showing that it had over 7 million active users and over 1 million validators in the past month. Additionally, DeFillama data showed there are over 1,000 projects on the blockchain with around $71 billion in assets locked on the network.
Further, its market capitalization now exceeds $400 billion, placing it among the top 25 global assets. The price of ETH has also risen to over $3,000, making it one of the most expensive digital assets in the crypto market.
Ethereum has also cemented itself as a prominent player in the crypto industry by introducing several innovations and upgrades, including the successful implementation of the Merge and Dencun hard forks. These upgrades transitioned the network from a proof-of-work to a proof-of-stake consensus mechanism and drastically reduced its transaction fees to record lows.
Moreover, the recent launch of spot Ethereum exchange-traded fund (ETF) products in the United States makes it the only digital asset, alongside Bitcoin, to be approved for trading by the US Securities and Exchange Commission (SEC) on American exchanges.
Crypto exchange Coinbase underlined the network’s importance for the broader crypto industry, pointing out that Ethereum is the anchor of an entire onchain ecosystem that has helped pave the way for decentralized finance.
Despite these achievements, Buterin remains focused on the future, expressing his anticipation for the next decade’s developments. He wrote:
“Looking forward to seeing what the next decade brings.”
Mentioned in this article
Ethereum 
Bitcoin 
Cardano 
Polkadot 
Consensys 
Vitalik Buterin 
Charles Hoskinson 
Gavin Wood 
Joseph Lubin Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$98,501.62
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Cardano
$0.93453
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Polkadot
$7.52809
Polkadot development is on track to deliver the most robust platform for security, scalability, and innovation.
Consensys
Consensys is a venture production studio and custom software development consultancy building decentralized applications (DApps), enterprise solutions and developer tools for blockchain ecosystems, focused primarily on Ethereum..
Vitalik Buterin stands as the pioneering force behind Ethereum, a transformative community-driven platform that fuels the cryptocurrency ether (ETH) and underpins a myriad of decentralized applications.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Gavin Wood is the former Chief Technology Officer and co-founder of the Ethereum Project.
Joseph Lubin, a Canadian entrepreneur, has made significant strides in the world of blockchain and cryptocurrency.