Ethereum (ETH)
$3108.02-0.88%
Monitor the live price of Ethereum (ETH), using live charts and up-to-the-minute updates. Get a comprehensive understanding of ETH market standing, learn the intricacies of cryptocurrency trading, and immerse yourself in the dynamic realm of digital currencies at SLEX. Access detailed news coverage, and insightful market analysis, and dive deeper into the factors that influence Ethereum price movements.
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Ethereum Price Real-Time Data
The live price of Ethereum is $3108.02 with a 24-hour trading volume of $29.92B. Its 24-hour peak value is $3218.98, and its 24-hour low is $3037.09. There are currently 120.42M million ETH in circulation.
Ethereum Explained
Ethereum is a cutting-edge platform that's open-source and blockchain-based. It features its own cryptocurrency called Ether (ETH) and allows the building of smart contracts and decentralized applications (DApps) without any risk of fraud or third-party interference.
The platform uses a Turing-complete programming language, which means it can run any algorithm, contributing significantly to the development of decentralized digital services. Ethereum is known as the leading blockchain service for its versatility and is ranked as the world's second-largest cryptocurrency platform by market capitalization.
The Inception of Ethereum
The idea of Ethereum was first proposed by Vitalik Buterin in a 2013 white paper. Buterin envisioned a blockchain that could go beyond just handling financial transactions; it could also offer a solid foundation for smart contracts and the creation of new cryptocurrencies without the need for separate blockchains.
With a successful initial coin offering (ICO) that secured US$18.3 million in Bitcoin, Ethereum's network officially started in 2015. It's been evolving ever since, with significant upgrades including a transition from the energy-intensive proof of work (PoW) to a proof of stake (PoS) consensus mechanism, emphasizing the network's scalability and efficiency.
The Mechanics of Ethereum
Ethereum revolutionized the blockchain domain with smart contracts—self-executing contracts with the terms directly written into code. These contracts enable two parties to engage in agreements and transactions without the need for a trusted intermediary, with Ethereum's native currency, Ether, used to pay the network fees for these transactions.
Furthermore, Ethereum's flexibility allows it to host various other cryptocurrencies, known as 'tokens,' through its ERC-20 compatibility standard, fostering a vibrant ecosystem within its network.
Applications of Ethereum
Ether, the platform's currency, is primarily used to handle transaction fees, known as "gas," that power operations on the Ethereum network. The platform's versatility allows developers to run DApps and create new cryptographic tokens and assets within the Ethereum system.
The widespread adoption of Ethereum has paved the way for numerous innovative applications, including decentralized finance (DeFi) platforms, play-to-earn games, non-fungible token (NFT) art, and more, highlighting Ethereum's role as a cornerstone of the digital economy.
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FAQ
What is Ethereum?
Ethereum is more than a cryptocurrency; it's an open-source, blockchain-based platform that enables developers to build and deploy decentralized applications and smart contracts. Ether (ETH) is the platform's native cryptocurrency, used primarily for transaction fees and computational services on the Ethereum network.
How does Ethereum work?
Ethereum's network runs on a blockchain secured by miners who perform complex computations to create new blocks and validate transactions. Smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code, are a key feature of the platform.
Is Ethereum safe to invest in?
Investment safety largely depends on personal risk tolerance and market knowledge. Ethereum is generally considered one of the leading blockchain platforms, with a large and active development community and a wide array of applications. However, cryptocurrency markets can be highly volatile, and it's recommended to only invest what one can afford to lose.
Can Ethereum (ETH) be exchanged for real money?
Absolutely. ETH can be converted to traditional fiat currencies through cryptocurrency exchanges, online platforms, and even some ATMs. SLEX Exchange offers users the ability to trade ETH for fiat currencies with ease and security.
How do I buy Ethereum on SLEX Exchange?
On the SLEX Exchange, purchasing Ethereum is straightforward. After registering and verifying your account, you can deposit funds or connect a credit card and place an order to buy ETH. The exchange will match your buy order with available sell orders at the current market rate or at a limit rate you set.
How can I store my Ethereum securely after purchasing on SLEX?
Post-purchase, the safest way to store Ethereum is in a secure wallet with private keys that only you control. Options include hardware wallets (like Ledger or Trezor), software wallets, or even paper wallets for long-term storage. While SLEX Exchange may provide wallet services, diversifying storage methods can minimize risk.
What determines the price of 1 Ethereum in fiat currencies on SLEX?
The price of Ethereum on SLEX is determined by market supply and demand, similar to stocks or commodities. Prices can fluctuate based on trading volume, market sentiment, network updates, and broader economic factors.
How accurate is the ETH to fiat currency calculator on SLEX?
The calculator on SLEX Exchange is designed to provide real-time conversion rates, reflecting the current market value of Ethereum as closely as possible. The rates are sourced from various reputable exchanges to ensure accuracy.
What advantages does SLEX offer for Ethereum (ETH) to fiat currency conversion without account registration?
SLEX might provide a user-friendly platform for quick and straightforward ETH to fiat conversions. For users seeking to trade without registering, SLEX may offer limited services that prioritize speed and convenience, with competitive rates and low fees.
How can I track the value of 1 ETH on SLEX for investment purposes?
SLEX Exchange likely offers various tools, including detailed charts, historical price data, and market analysis features, that can help users track the value of ETH over time for informed investment decisions.
How does SLEX ensure the best rates for Ethereum to fiat currency conversions?
SLEX likely uses a system that compares rates across multiple exchanges to offer competitive conversion rates for Ethereum. They might also provide options for limit orders, where users can set their desired rate and the exchange will execute the trade when the market matches that rate.
What limits apply to purchasing Ethereum on SLEX with a credit card without verification?
For unverified accounts, SLEX might impose limits on transactions to adhere to anti-money laundering standards and other regulatory requirements. These limits are in place to protect both the exchange and its users, and the exact limits can typically be found in the exchange’s terms of service or FAQ.
How does SLEX ensure the most current exchange rate for Ethereum is displayed?
SLEX Exchange likely employs sophisticated technology that pulls the most current exchange rates for Ethereum from a variety of trusted global sources. This information may be updated continuously to ensure users have access to timely and accurate data.
Why should I trust SLEX for my Ethereum conversions?
Users may find SLEX trustworthy due to its security measures, compliance with regulatory standards, customer service reputation, and transparent operations. Trust also comes from the exchange's ability to provide reliable services and protect users' assets and data.
Who created Ethereum and what do we know about them?
Ethereum was created by Vitalik Buterin, a programmer who was just 19 years old when he proposed the platform in 2013. Buterin, along with co-founders like Gavin Wood and others, officially launched Ethereum in 2015. Buterin remains a prominent figure in the cryptocurrency space and is actively involved in Ethereum
