What is Ethereum, Ether Price Analysis.
Ethereum (ETH) is a smart contract platform that enables developers to build decentralised applications (Sapp’s) conceptualized by Vitalik Buterin in 2013. ETH is the native currency for the ethereum platform and is also used as the transaction fees for the miners on the ethereum network.
Ethereum is the pioneer for Blockchain based smart contracts. When running in a Blockchain a smart contract becomes like a self operating program that automatically executes when specific conditions are met. On the Blockchain smart contracts allow for the code to be run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It can facilitate the exchange of money, content, property, shares or anything or value. The ethereum network went live on 39 July 2915 with 72 million ethereum premined.
Like Bitcoin, Ethereum is a disturbed public Blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and ethereum differ substantially in purpose of capability. While the Bitcoin is used to track ownership of digital currencies, the ethereum Blockchain focuses on running the programming code of any decentralised application. In ethereum Blockchain, instead of mining for Bitcoin, miners work to earn Ether, a type of Crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the ethereum network.
Ethereum is currently placed at the 2nd position in the global list of Crypto assets. Ethereum is currently priced at $161.27 USD which is equivalent to 0.028 in Bitcoin value. In the last one week the price of this asset has hiked up from 152.09 USD to 170.65 USD. In Bitcoin value it has hiked from 0.027 BTC to 0.030 BTC. The market cap of ethereum is $17,085,500,857 USD which is equal to 2,971,700 BTC. The twenty four hour volume is $6,018,978,342 USD which is 1,046,887 BTC. The circulating supply of this currency is 106,945,191 ETH.
In the last 7 days Ethereum has formed a decent support base above the $150 level. Ethereum is trading above a few important supports near $158. The 52 week low value has been recorded at 82.83 USD and 52 week has been recorded at 835.06 USD. Ethereum has noticed an all time high of $1432.88 USD (Jan 13, 2018) and an all time low of 0.420897 USD (Oct 21,2015).
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