Ethereum, or ETH, is a decentralized cryptocurrency that serves as a platform for other cryptocurrencies and the execution of smart contracts. It is the second largest cryptocurrency in terms of market capitalization, with a market value of approximately $331.79 billion.
*Main features of Ethereum:*
- *Smart contract platform*: allows for the creation and execution of self-executing contracts, without the need for intermediaries.
- *Decentralized*: operates on a peer-to-peer network, without centralized control.
- *Growing ecosystem*: has a wide range of decentralized applications (dApps), including decentralized exchanges, lending platforms, and much more.
*Price and market:*
- *Current price*: approximately $2,748.06, with an increase of 8.14% in the last 24 hours.
- *Trading volume*: $32.45 billion in the last 24 hours.
- *Market capitalization*: $331.79 billion.¹
*Use of ETH:*
- *Pay transaction fees*: ETH is used to pay transaction fees on the Ethereum network.
- *Participate in staking*: validators on the Ethereum network earn ETH as a reward for securing the network.
- *Trading*: ETH can be traded on centralized and decentralized cryptocurrency exchanges.²
*History and future:*
- *Foundation*: Ethereum was founded by Vitalik Buterin and launched in 2015.
- *The Merge*: in September 2022, Ethereum transitioned from Proof of Work (PoW) to Proof of Stake (PoS), significantly reducing ETH issuance and making the network more energy-efficient.
