The price is really ridiculous now, people get surprised and afraid of the recent price in market now, this normally happens in cryptos, it's called volatility and am sure it's will soon be normal.
ridiculous for what? I thought that if you are getting surprise about that and it seems you are investing at the peak price. This is just a common thing in the crypto but remember the ethereum has used by so many companies and then you can see that the latest price is very undervalued for each ethereum coin.