OKXCryptoEthereum Price

ETH Price

Ethereum Price

While Ethereum is a globally distributed blockchain network and Ether (ETH) is its native digital currency, the two terms are often used interchangeably. The Ethereum network is primarily used as an electronic database for transactions and computations, whereas Ether acts as fuel, and it is required to pay for transactions, the development of smart contracts and of decentralized applications.
Given how it is the second-largest cryptocurrency by market capitalization, the current Ethereum price is naturally of interest to market participants. However, since it can be bought and sold 24/7, 365 days a year on crypto exchanges like OKEx, Ethereum's price changes fairly quickly.
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ethereum price

What drives the ETH price?

Ethereum Price
ethereum usage

Usage

Applications that run on the Ethereum blockchain need Ether to pay for "gas."
Staking Rewards

Staking Rewards

With Ethereum moving to a proof-of-stake consensus algorithm, ETH holders will be able to stake their assets to earn rewards, increasing ETH demand.
ethereum demand

Demand

As more decentralized applications and smart contracts are developed and used, the Ethereum network grows, boosting demand for Ether.

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Usage of ETH

What is Ethereum Used For?

Ethereum is primarily used as an electronic database, or ledger, for applications and services to store transaction information and execute smart contracts. The blockchain is frequently used by decentralized applications, otherwise known as DApps, which are programs that operate over distributed networks like Ethereum and do not rely on a central authority or intermediary. Given how Ethereum allows for smart contracts to be written onto its blockchain, DApps are able to ensure the trust and validity of any transactions executed as users engage with them.

Recently, Ethereum has become the blockchain of choice for the decentralized finance, or "DeFi," industry. Many DeFi providers use Ethereum and its smart contract capabilities in order to provide financial services — such as lending and peer-to-peer trading — all without the need for traditional, centralized institutions such as banks.

Ethereum's native cryptocurrency, Ether (ETH), is also frequently bought and sold as an asset. On exchanges like OKEx, ETH can be traded on spot markets or through derivatives such as ETH futures and ETH options contracts. OKEx provides a simple, secure and convenient platform for monitoring Ether's price, including live feeds and ETH price charts, as well as for trading Ether as an asset. It only takes a few clicks to start trading ETH on OKEx using our desktop and mobile platforms.

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