Ethereum (ETH)

Ethereum (ETH) currently ranks as the second largest cryptocurrency by market capitalization, with a total value of approximately $191.26 billion. The coin trades at $1,588.22 per unit, reflecting a significant decline of 10.42% over the last 24 hours and a 21.78% drop over the past week. With a circulating supply of 120,232,214 tokens and no maximum supply cap, Ethereum has fallen 68% from its all-time high of $4,946.23. The asset utilizes the Ethash algorithm and operates on a Proof of Stake consensus mechanism as a Layer 1 blockchain.

Key Characteristics

• Functionality: Serves as a decentralized platform for building and deploying smart contracts and decentralized applications (dApps).
• Transactions: Facilitates peer-to-peer transactions and applications without requiring a central authority.
• Market Context: Associated with tags including Token Issuance, Cryptocurrency, Premine, and FTX Holdings.