TLDR
- ETH is currently trading near $1,870
- Spot Ethereum ETFs are live in the US, opening access to mainstream investors
- A 2026 study found Ethereum upgrades doubled transaction throughput and cut mainnet fees to below $0.02
- Solana and other chains are competing hard, offering faster and cheaper transactions
- Layer-2 growth may not automatically boost ETH’s price, raising value capture questions
Ethereum has long been considered the second most important cryptocurrency after Bitcoin. Unlike Bitcoin, which focuses on being a scarce digital asset, Ethereum is the infrastructure behind decentralized finance, stablecoins, tokenized assets and blockchain applications.
That broader utility gives ETH a strong long-term investment case, but it doesn’t guarantee price gains.
ETH is currently trading near $1,870.
A Maturing Network With Real Upgrades
A 2026 study found that recent Ethereum upgrades had doubled transaction throughput across the main network and its layer-2 ecosystem. Median mainnet transaction fees fell from over $2 to below $0.02. Layer-2 fees dropped by more than 95%.
$ETH is bouncing from the bottom of the Expanding Diagonal structure, targeting the $12k – $20k orange box 🟧 pic.twitter.com/uyFp35Lmlx
— Gert van Lagen (@GertvanLagen) July 16, 2026
These upgrades introduced dedicated data capacity called “blobs,” which significantly cut the cost of processing transactions on Ethereum-based rollups such as Arbitrum, Base and Optimism.
Spot Ethereum ETFs began trading in the United States in July 2024. That placed ETH alongside Bitcoin as one of the few cryptocurrencies available through mainstream US brokerage and retirement accounts.
Ethereum also uses a proof-of-stake system, allowing holders to earn staking rewards by helping secure the network. This makes ETH a productive asset compared to Bitcoin.
Competition and Value Capture Concerns
Ethereum’s biggest challenge is competition. Solana offers faster transactions and lower fees without requiring users to navigate multiple layer-2 networks.
According to research from 21Shares, Solana generated approximately $2.85 billion in revenue between October 2024 and September 2025.
There is also a core question around value capture. Lower fees on layer-2 networks improve usability, but they reduce what flows back to Ethereum’s mainnet. Ethereum could power a vast digital economy without ETH’s price rising at the same pace.
Researchers have also flagged concentration among Ethereum block builders, raising questions about centralization in parts of the network’s infrastructure.
ETH is highly volatile and has a history of underperforming Bitcoin during certain market cycles.
