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Information about Ethereum (ETH)
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
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Recently, Ethereum’s staking balance decreased by 120K ETH, equating to 192 million USD. Meanwhile, whales have resumed buying 320K ETH, indicating bullish sentiment, which may help stabilize prices despite the potential risks.
If ETH fails to hold the ascending triangle support, it could drop to 1,522 USD. Current market dynamics and futures liquidations of 34.30 million USD heighten volatility, with ETH potentially testing resistance levels of 1,688 USD or 1,800 USD.
The White House is reviewing more than 15 international trade agreements, with former President Trump keen on personal involvement in the signing process. Although anticipated, the implications for cryptocurrency markets, including Ethereum (ETH), remain speculative as no concrete updates have surfaced.
Experts suggest that trade policy changes typically do not directly influence cryptocurrency valuations. Ethereum (ETH) is currently priced at 1,595.91 USD, facing a 24-hour trading volume decrease of 17.63% and a 53.45% drop over the past 90 days, reflecting market stability amidst policy discussions.
Ethereum is currently without a specific policy institute in Washington, a contrast to Bitcoin and Solana, which have established organizations. Bill Hughes of Consensys notes that Ethereum’s focus remains on technological principles rather than political strategies.
Despite Ethereum lacking a formal marketing effort, it maintains a strong presence in discussions with regulatory bodies such as the SEC. Danny Ryan highlights that Ethereum’s advocacy is decentralized, allowing various contributors to influence policy without a central organization.
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