Ethereum Price Stabilizes Amid Weaker July Jobs Report
The Ethereum price has stabilized alongside Bitcoin following Friday's weaker-than-expected July jobs report. The U.S. economy lost 23,000 jobs, below forecasts of about 80,000 gains, with unemployment at 4.1%. This softer labor data makes another Federal Reserve rate hike harder to justify, and futures now price in a roughly 56% chance of a pause at the September 16 meeting.
Ethereum's price is currently around $1,910, making it one of the second-largest cryptocurrencies after Bitcoin. Its market capitalization stands at about $233 billion. Unlike Bitcoin, Ethereum has no fixed maximum supply and its circulating coins are affected by new issuance and the fee-burning mechanism introduced in 2021.
Ethereum is trading well below its 2025 high near $5,000, but remains supported by demand drivers such as staking, spot ETH ETF flows, and activity across its layer-2 networks and stablecoin ecosystem.