$ETH ETH is the abbreviation for Ether, the native cryptocurrency of Ethereum. Here is an introduction to it:

• Basic Information: Ethereum is an open-source public blockchain platform with smart contract functionality, gradually developed after Vitalik Buterin published the white paper in 2014. Its cryptocurrency, Ether, is named after Ethereum, with the English term being 'Ether' and abbreviated as 'ETH'.

• Core Features: The core functionalities of the Ethereum platform include smart contracts and decentralized applications (DApps). Smart contracts are computer programs that automatically execute the terms of a contract, deployed on the Ethereum blockchain without the need for third-party intervention, executing operations automatically when preset conditions are met. DApps utilize the smart contract functionality to provide various services such as financial services, games, social networks, etc., operating and maintaining through numerous nodes on the blockchain network, which enhances the transparency, security, and resistance to censorship of the applications. As the native cryptocurrency of the Ethereum blockchain, ETH is mainly used to pay transaction fees on the Ethereum platform, known as 'gas fees', to incentivize nodes to validate and process transactions.

• Development History: In July 2014, Ethereum conducted a 42-day pre-sale of Ether to raise funds for platform development. On July 30, 2015, the Ethereum mainnet officially went live. In 2020, decentralized finance witnessed explosive growth on the Ethereum platform. In 2021, the Beacon Chain of Ethereum 2.0 was officially launched, marking a key step towards the transition to a proof-of-stake mechanism. From 2022 to 2024, Ethereum continued to advance technical upgrades, such as subsequent optimizations after the merge, and the gradual implementation of sharding technology. On March 13, 2024, the Den CUN hard fork was activated, introducing Proto - Danks Harding, laying the foundation for future upgrades.

• Market Situation: ETH is the second-largest cryptocurrency by market capitalization, following Bitcoin, with a market cap of $440.7 billion as of November 30, 2024. Its price is influenced by various factors, including market supply and demand, the development of the Ethereum ecosystem, and the macroeconomic environment.

However, it is important to note that in China, activities related to virtual currencies are considered illegal financial activities. Speculative trading in virtual currencies disrupts economic and financial order, breeds illegal activities such as gambling, illegal fundraising, fraud, pyramid schemes, and money laundering, seriously endangering the property safety of the people.