Ethereum has just turned 10, marking a milestone that represents a decade of one of the most notable platforms to have taken the world of finance by storm. The journey of what’s not the 2nd biggest cryptocurrency in the world has been quite impressive, marked by growing pains and triumphs as well as resilience.
When Vitalik Buterin drafted a white paper for the project, few would have expected Ethereum to have such a seismic impact on the financial world and technology, and yet, it evolved into a billion-dollar ecosystem loved by many. Its popularity has quickly risen among investors, with many seeking to learn how to buy Ethereum and maximize its capabilities.
Contents
The origins of Ethereum
According to Ethereum’s co-founder, Vitalik Buterin, the project was created out of a mix of admiration for Bitcoin’s decentralized nature and frustration due to its limited capabilities. He wanted to create something more adaptable, and that’s how Ethereum was introduced as a decentralized, programmable blockchain that would host dApps and smart contracts, eliminating middlemen and allowing for other coordination forms.
The foundation for the project was laid between 2013 and 2014, with Buterin bringing on board other co-founders. Together, they created a crowdfunding campaign in mid-2014, which turned out to be one of the most successful Initial Coin Offerings in the history of cryptocurrency, raising more than US$18 million. However, the Ethereum blockchain didn’t launch immediately after this momentum. Its release, dubbed “Frontier” , happened on July 30, 2015, and was a raw and developer-focused version of the project. The native coin of Ethereum- ETH, traded for under a dollar at the beginning, and during the first months after its inception, it didn’t experience much market movement. Its price hovered around US$0.70 and US$2.00, due to developers and enthusiasts who were intrigued by its dApp potential.
Ethereum’s first major price rally
During the 2017 crypto bull run, Ethereum reached its first price peak, driven by rising interest in blockchain technology worldwide and the ICO boom that fueled the asset’s mainstream popularity. While Ethereum started that year at barely US$8, it achieved a record high of about US$1,400 by January 2018, marking one of the most remarkable price increases in cryptocurrencies’ history. This substantial increase was fueled by the emergence of Ethereum as the top platform for launching new tokens via initial coin offerings, coupled with speculative demand.
However, by early 2018, the market no longer worked in Ethereum’s favor: due to a price correction, Ethereum fell below US$100 by the end of the year, with the decline in its performance exposing its technical challenges, including slow confirmation times and high gas fees.
The DAO hack and its impact on Ethereum’s trajectory
Ethereum was tested early in terms of its decentralization ethos. In 2016, the Decentralized Autonomous Organization – also known as DAO, raised around US$150 million in order to create a venture capital fund that token holders vote on and smart contracts governed entirely.
Unfortunately, in only weeks following its launch, an exploiter drained about a third of the fund, and Ethereum was left facing a crisis at only ten months old. This incident tested its fundamental principles, such as the inviolability of smart contracts, and the immutability of the blockchain. Different options were debated after the DAO hack, and the hard fork was one of them, which ultimately was implemented, splitting Ethereum into two chains: the main Ethereum chain and another chain named Ethereum Classic.
The Merge upgrade: the most ambitious technical feat of the Ethereum network
The Merge was arguably the most significant technical development that Ethereum underwent to date. In September 2022, it transitioned from proof-of-work to proof-of-stake, without causing any disruptions to the network. This upgrade reduced energy usage by over 99%, turning Ethereum into the most prominent PoS blockchain overnight, changing how the blockchain verified new transactions.
Following the implementation of the Merge, the market’s reactions were mixed. While some were excited and capitalized on initial price movements, others adopted a more cautious approach. The transition to the PoS model paved the way for new financial products, including PoS-based investment strategies and staking pools, offering new opportunities for retail and institutional investors to engage with the Ethereum ecosystem.
Joining the mainstream: The approval and launch of ETH ETFs
After years of speculation, Ethereum succeeded in getting the SEC’s approval for spot ETH ETFs. This signaled a new level of institutional adoption, while also establishing ETH as a financial asset, rather than merely a technology platform. When trading commenced on July 8, 2024, the ETH ETFs experienced cumulative inflows of $106.8 million in the first day alone, with more than $1.12 billion in volume across the group. Although the figures seemed modest compared to those of Bitcoin ETFs, they were remarkable, with ETH ETFs outperforming expectations during volatile market conditions.
Net inflows into ETH ETFs surged considerably in July 2025: in just one day, they drew more than $727 million, marking the third-largest single-day inflow throughout all crypto ETFs, and signaling renewed confidence in the asset’s long-term potential.
Where is Ethereum headed further?
After its 10th anniversary, the conversation around Ethereum has shifted from whether it can work to how far it can go from here. Its roadmap for the future includes further developments such as zero-knowledge proofs for scalability and privacy, cross-chain interoperability, as well as further Layer-2 adoption. All of these improvements aim to make Ethereum even more reliable and appealing to billions of users globally. For Buterin, however, the cultural DNA of Ethereum matters as much as its technology, which is why the co-founder urged the community to keep the project’s experimental spirit alive. No matter where it goes next, it must continue to be a playground for testing and refining bold ideas.
Looking ahead, the role of Ethereum as the world computer feels very close, and the next decade could see this outstanding project powering not just the financial world but also governance, healthcare, and global commerce. The last 10 years have seen Ethereum prove its vision, but the next 10 will be about its mainstream adoption and worldwide impact.
Takeaway
Ethereum has had an impressive journey throughout its 10 years of existence, and over the next decade, it aims to evolve from a cryptocurrency network into a global digital infrastructure. The goal will be to balance experimentation with maturity, so that Ethereum can be permissionless, resilient, and truly global, shaping the future of governance, finance, and digital society.
