The ethereum price has risen by 2% in the past 24 hours, reaching $1,657 as the cryptocurrency market gains by the same percentage. Its current price means that it's static in the past week and has increased by 6% in the last 14 days, with the coin just about recovering its $200 billion market cap today. While ETH has provided a 38.6% return since the beginning of 2023, it remains a significantly undervalued token. And with Coinbase recently announcing a layer-two sidechain for Ethereum, it could see some very big gains later in the year indeed.