Ethereum (ETH) is trading today, June 14, at US$3,489.49, according to the Live Coin Watch portal.
This price positions it 1.0% compared to its value 24 hours ago and 0.94% compared to the same day last week.
The current dominance (market price) of the token is US$411,944,237,084.
Ethereum is a decentralized open source platform that runs on its own blockchain and allows each developer to program new types of applications. Many define Ethereum as a digital supercomputer where any user can run applications developed by programmers anywhere in the world.
The crypto asset, created by the young Russian raised in Canada Vitálik Buterin in 2015 under blockchain technology, stood out from the beginning for being the first to include programmable smart contracts in its blocks.
In 2018 Ethereum was a provisional project. Today it is the second crypto asset with the highest market capitalization and one of the most used blockchains for DeFi (Decentralized Finance) and NFT (unique and unrepeatable digital assets, increasingly used for works of digital art).
Ethereum created the ERC-20 network, a blockchain with smart contracts embedded under the Singularity programming language where new projects that need to use its extensive computing power and interoperability are set up.
Cryptowinter
In a context of global economic crisis, with unprecedented inflation rates in the United States and Europe, and a war between Russia and Ukraine that no one knows when – or how – will end, Cryptocurrencies are suffering one of their worst moments and specialists say that this crypto winter could last up to a year and a half.
In a report titled “Cryptowinter: keys to understanding the fall of cryptocurrencies worldwide”BBC journalist Cecilia Barria explains that this abrupt fall came just after the best historical moment in the crypto world.
In just five years, a bitcoin went from being worth US$1,000 to US$68,000.
The journalist points out that It is determined with a “fairly basic” rule, supply and demand.. “When more people want to buy, the price goes up. And when no one is interested, the price goes down,” she summarizes. But he clarifies that the same thing does not happen as on Wall Street. “Cryptocurrencies are not shares of a company. They are, as you already know, digital money, and that means that no one regulates them, no authority issues them and, of course, there are no banks that keep them. So, how they move without any control, the ups and downs are frenetic”Barría specifies in the report.
The term crypto winter or crash crypto was coined in the first big crash of cryptocurrencies, which occurred just before the last boom, in the one in which bitcoin touched US$69,000, in November 2021.
THE NATION
