Let me take you to understand what ETH currency is in one minute
- WBOYOriginal
- 2024-09-09 15:03:01264browse
Ethereum (ETH) coin is a native token built on the Ethereum blockchain and has the following functions: serving as transaction fuel, store of value, participating in governance, staking, and serving as a public foundation. Its properties include decentralization, programmability, scarcity, security and global acceptance.
What is ETH coin?
Ethereum (ETH) coin is a native token built on the Ethereum blockchain network. Ethereum is a decentralized, open-source blockchain platform for creating smart contracts and other distributed applications (dApps).
Functions of ETH Coin
- Fuel: ETH Coin is the transaction fuel on the network and is used to make payments on Ethereum blocks The fees required to execute smart contracts and other operations on the chain.
- Store of Value: ETH coins are widely used as a store of value, similar to Bitcoin.
- Governance: ETH coin holders can participate in the governance of the Ethereum network by voting to propose updates and improvements.
- Staking: ETH coins can be staked into the Ethereum 2.0 network to verify transactions and earn rewards.
- Public Base: The ETH coin serves as the common base for all applications and services in the Ethereum ecosystem.
Features of ETH Coin
- Decentralization: ETH Coin is not controlled by any central authority.
- Programmable: ETH coins can interact with smart contracts to implement more complex functions.
- Scarcity: ETH coins have a limited supply, ensuring their value increases as demand grows.
- Security: ETH coins are secured by the Ethereum blockchain, which is known for its security.
- Global Acceptance: ETH coin is widely accepted among cryptocurrency exchanges, investment platforms and merchants.
Ethereum (ETH) Updates
Current Price: 2301 USD
Changes:
Ethereum is up 1.05% in the past 24 hours.
Factors behind the rise:
- Stock market rebound: Positive sentiment in financial markets boosted demand for risk assets, including Ethereum.
- ETH 2.0 upgrade expectations: The market is anticipating the upcoming Shanghai upgrade, which will release pledged ETH and increase supply.
Future Outlook:
In the short term, Ethereum is likely to continue with a consolidation trend. However, if the stock market recovery continues and the Shanghai upgrade goes well, a positive breakout is possible.
Action recommendations:
- Short-term position holders: Consider holding current positions and pay close attention to market dynamics.
- Long-term investors: This pullback could be an opportunity to accumulate more ETH, especially if the price falls significantly below current levels.
Indicator:
- Circulating Supply: 120,323,926.08 ETH
- Maximum Supply: Unlimited
- Total Supply: 120,323,926.08 ETH
- Circulation market value: US$2,768.9 billion
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