$ETH ETH commonly refers to Ether, the native cryptocurrency of the Ethereum blockchain. Think of Ethereum as a decentralized, programmable platform that allows for the creation of various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs). Ether acts as the "gas" that powers this network, used to pay transaction fees and interact with smart contracts. It's the second-largest cryptocurrency by market capitalization and plays a crucial role in the expanding world of Web3.