Internet Computer vs 
Ethereum
Internet Computer sets out to host entire applications — front end included — on-chain, replacing cloud servers rather than complementing them, which requires powerful node hardware and a different decentralisation trade-off. Ethereum keeps on-chain logic minimal and expensive on purpose, leaving interfaces and storage elsewhere. Whole-stack ambition against a deliberately narrow, heavily secured base layer.
12 months, both starting at 100 (AUD)
ICP → 55 · ETH → 55| Measure | ICP | ETH |
|---|---|---|
| Market cap | A$2.3B | A$466.8B |
| Rank | #57 | #2 |
| Price | A$4.14 | A$3,821.13 |
| 90-day change (AUD) | +29.0% | +62.0% |
| 12-month change (AUD) | −36.9% | −40.3% |
| From all-time high | −99.5% | −50.0% |
| Supply model | No fixed maximum | No fixed maximum |
| AU exchanges we verify it on | 3 | 5 |
About Internet Computer
Internet Computer (ICP) is an ambitious network that aims to host entire applications — including their front-ends — on-chain, rather than just their transactions. It's technically distinctive and has had a famously volatile market history.
About Ethereum
Ethereum, launched in 2015, introduced smart contracts — programs that run on the blockchain itself — and became the foundation for most of crypto's applications, from stablecoins to DeFi and NFTs. Its coin, ether, pays for computation on the network and can be staked to help secure it.
FAQ
Which is bigger, Internet Computer or Ethereum?
By market value today: Ethereum (A$466.8B vs A$2.3B). Size measures money invested, not quality — but it does measure liquidity, which affects how easily you can buy and sell.
Which performed better this year?
Over the past 12 months in AUD terms: ICP −36.9%, ETH −40.3% — the chart above shows the whole path, which matters more than the endpoints. Past performance is no indicator of future results, in either direction.
Can I buy both in Australia?
Yes — both are listed on AUSTRAC-registered exchanges we verify. ICP appears on 3 of our reviewed platforms and ETH on 5. Compare costs first on the fee calculator, and remember every crypto-to-crypto swap between them is a CGT event.
Should I hold ICP or ETH?
That's a personal decision we don't make for you — this page exists to make the structural differences clear so the choice is yours. What we'd say to anyone: understand what job each coin is designed for, size positions like the risk is real, and check the honest failure statistics before going further down the market-cap list.
Data from our market records (powered by CoinGecko), refreshed with the daily rebuild. General information only, not financial advice — we compare structure and history, we don't pick winners.