$ETH Ethereum, often abbreviated as $ETH, is a decentralized platform for building and deploying distributed applications. As the second-largest cryptocurrency by market capitalization, Ethereum stands out because it offers the functionality of smart contracts, allowing developers to create complex agreements and protocols that automatically execute transactions. The native currency of the Ethereum network is called Ether, which is used not only to perform transactions but also to support operations within these smart contracts, providing innovative ways to utilize blockchain technology beyond mere currency exchange.