$ETH

ETH is short for Ether, which is a cryptocurrency used on the Ethereum blockchain platform. Ethereum itself is a decentralized platform that enables the development and execution of distributed applications (dApps) and smart contracts. ETH serves as "gas" to run transactions and applications on the Ethereum network, such as paying transaction fees or gas fees.

In more detail:

Ethereum (ETH):

Ethereum is a decentralized blockchain platform that serves as a base for various distributed applications (dApps) and smart contracts.

Ether (ETH):

Ether is a cryptocurrency that is the unit of currency for the Ethereum platform. ETH is used to pay for the computational fees (gas fees) required to execute transactions and applications on the Ethereum network.

Role of ETH:

ETH acts as fuel for the Ethereum network, allowing users to transact, execute smart contracts, and interact with various dApps built on this platform.

For example, if you want to use a decentralized application on Ethereum (such as a decentralized finance application or an NFT-based application), you will need ETH to pay for the gas fees required to execute those transactions, as explained by Gemini Trust.