Here's a detailed overview of the Ethereum (ETH) coin pair:
1. **Definition & Purpose**: Ethereum ($ETH) is the native cryptocurrency of the **Ethereum blockchain**, a decentralized platform enabling **smart contracts** and **decentralized applications (dApps)**. Unlike Bitcoin (primarily a digital currency), Ethereum serves as a programmable ecosystem for DeFi, NFTs, and Web3 infrastructure.
2. **Founding & Technology**: Conceived by **Vitalik Buterin** in 2013 and launched in 2015, Ethereum uses **Proof-of-Stake (PoS)** consensus (since "The Merge" upgrade in 2022), reducing energy use by 99.95%. The **Ethereum Virtual Machine (EVM)** executes smart contracts autonomously.
3. **Market Position**: ETH is the **second-largest cryptocurrency** by market cap (~$323 billion as of 2025). Its price is ~**$2,676**, with all-time highs near $4,892 (2021).
4. **Utility**: ETH pays for transaction fees ("**gas**"), secures the network via **staking**, and acts as collateral in DeFi. It’s essential for NFT minting, token swaps, and governance.
5. **Trading Pairs**: ETH is traded against fiat (e.g., **ETH/USD**) and other cryptocurrencies (e.g., **ETH/BTC**) on exchanges like Coinbase, KuCoin, and decentralized platforms (e.g., Uniswap).
Key drivers of ETH’s value include network upgrades, DeFi/NFT adoption, Bitcoin’s market movements, and institutional use (e.g., Ethereum ETFs).