If bitcoin is gold, ethereum is silver. Ethereum and its token, ether (ETH), has always been on the top three best-performing cryptocurrencies by market capitalization. Since ethereum is a blockchain platform for smart contracts, it has been powering different projects and coins that are set to disrupt different industries. This is the reason why ether (ETH) is highly valuable.
In the Philippines, the ether cryptocurrency is still pretty young in terms of popularity amongst common Filipinos. But cryptocurrency exchanges and wallets such as Coins.ph and its trading platform, Coins.pro already has it. If you want to trade or buy ETH, you can check our article: How to buy ether in the Philippines.
Table of Contents.
- 1 Overview: Price of ether
- 2 Lifetime Ether Price Chart
- 3 Ethereum to PHP Conversion Rate
- 4 Ethereum to PHP Price Chart
- 5 How to use the Ethereum to Pesos Price chart
- 6 Buy or Sell ETH from the Philippines
- 7 Why is Ether Volatile?
- 8 Is BitPinas advocating buying cryptocurrency?
Overview: Price of ether
Just like bitcoin, ether is running second in terms of popularity. It also has direct conversions for the U.S Dollar (USD), Euro (EUR), South Korean Won (KRW), Chinese Yuan (CNY), and Japanese Yen (JPY). Aside from fiat, it also has trading pairs to other altcoins and of course, can be traded to BTC as well.
Lifetime Ether Price Chart
With bitcoin gaining a real money value almost a year after its release, ether, on the other hand, has a recorded price of 2.83 USD on August 7, 2015. It is just a couple of days after its initial release on July 30, 2015. After its 2.83 USD debut, it crashed and had a hard time bringing it back to 2 USD until January 2016 where it rallied up to 14.62 USD on March 2016. A year later, in March 2017, it reached 100+ USD mark and still rallying towards the top.
Unlike bitcoin that got its highest price peak on December 2017, ether was at its highest on January 2018 where it reached 1389.18 USD a token. Following the downward trend of the top crypto, bitcoin, at the start of 2018 it also went down afterward. As of this update, even though its price in the market is looking bear, ether is slowly penetrating the country with its availability in main cryptocurrency wallets such as Coins.ph and Abra.
Image from: CoinMarketCap
Ethereum to PHP Conversion Rate
The Philippines is one of the rare countries in the world that embraces cryptocurrencies and the blockchain technology. The country’s regulators such as the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas are trying their best to understand the new technology and develop regulations to protect the people. Although ether is not as popular as bitcoin in the mainstream, Filipino cryptocurrency enthusiasts are already buying, selling, and hodling the token. This is in addition to the platform’s other tokens compliant to its ERC-20 and ERC-721.
As of this update, there are already wallets such as Coins.ph and Abra available in the Philippines. Virtual Currency exchanges such as Coins.pro (also from Coins.ph) and the incoming PDAX have ETH on their trading list.
Ethereum to PHP Price Chart
This ETH to PHP price chart will let you see the ether price action in terms of 1 day, 1 week, 1 month, 3 months, 1 year, and All the lifetime of the coin. It will also give you the option to view it on a Line chart, Candlestick chart, or OHLC (open-high-low-close chart). A USD and PHP option is also provided.
How to use the Ethereum to Pesos Price chart
Unless you are viewing the cache version of this page, you can freely alter the Ether to PHP chart above. You can choose to click any of the following:
- 1-day chart
- 7-days chart
- 1-months chart
- 3-months chart
- 1-year chart
- Overall value chart of Ether since its inception.
What is the difference in using the Line chart, Candle, or OHLC?
The Line chart is the most basic of the three. It will let you analyze the ETH price without all the noise. It is best used when you want to do a high time-frame analysis, for example, 1 month. Using this kind of chart will let you view, analyze its market flow, and see its trend.
The Candlestick chart, however, may look intimidating but it will give you more information. Using it will let you know the opening, high, low, and closing prices of the token at a specific period. This is unlike the Line chart that you can only view a specific price during a specified time frame. You may also notice a change in color. Green candle means the price went higher than it opened during that period, the red candle means vice versa.
OHLC, on the other hand, works just like the candlestick chart but instead uses lines. Horizontal lines extending to the left is the opening price while if it extends to the right, it is its closing. Vertical lines going up means the price is getting high while going down means it’s getting low.
If you also toggle on the USD or PHP, you will notice that the charts are different. This is mainly because the two are not direct conversions. The data from the USD price is from Bitfinex, GDAX, Kraken, Bitstamp, and Gemini. The PHP price is from Quione and Remitano.
In some instances that the chart is unavailable on this page, kindly refresh the page. You can also try to open a new tab and go to https://www.cryptocompare.com/ and then go back to this page.
We recommended using the Candlestick Chart to see the exact increase and decrease of ether’s value over time. This will give you the token’s opening, high, low, and closing prices. But if you want a simpler chart, you can use the Line Chart.
Why a ETH to PHP Rate is Useful
If you want to invest on having ether or want to purchase it in order to trade it with other tokens, it is recommended to check the exchange rates first. This will give you a general idea of the following:
- You will get an idea on how much the token is currently trading versus PHP
- How much ether you’ll get for your Philippine Peso.
- How much PHP you’ll get after you’ve withdrawn your ETH (ETH to PHP).
Buy or Sell ETH from the Philippines
Buying or selling ETH in the Philippines is easier now because of certain wallets and exchanges in the country. As of this update (September 12, 2018), the Securities and Exchange Commission (SEC) is currently creating its draft rules on Virtual Currency Exchanges. The commission seeks a joint collaboration with the country’s Bangko Sentral ng Pilipinas (BSP). According to SEC, more and more companies are applying to be a cryptocurrency trading platform in the country.
Should you decide to buy ether, we recommend checking out our article
Where to keep your ethers? Check out:
Why is Ether Volatile?
Same as other cryptocurrencies in the market, ether is also highly volatile. The most basic reason for this is the law of supply and demand. The “price discovery” happens between the current supply of sellers versus the demand from the buyers.
Other reasons that affect the ETH price are public perception (this happens if holders act on negative or positive press), Press (whether good or bad), government and politics.
Is BitPinas advocating buying cryptocurrency?
The best way to understand blockchain is to use its readily available cryptocurrency. This is according to a blockchain enthusiast and cryptocurrency pioneer, Mr. Brock Pierce. He said that the simplest way to understand the new technology and away from its intimidating jargons is by using cryptocurrencies and its wallets.
He added that the technology is like the internet, that it needs to be used in order to be understood.
It is also a fact that most Filipinos are unbanked or don’t have enough documents or funds to open a bank account. Using cryptocurrency and its blockchain will help in financial inclusivity and will let its users feel a certain inclusion.