Iconic Photo of Dogwifhat Meme Coin Nets $4.3M in NFT Auction
The auction started on Friday and saw a fierce bidding war between two prominent bidders, Memeland, a crypto project, and GiganticRebirth, known within the crypto community as GCR.
$3 392
1H
0.62%$20.90
24H
-6.43%$233
7D
-16.1%$651
30D
21.0%$588
Ethereum is a decentralized platform that runs smart contracts – applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. Due to its basic computational capability, Ethereum can perform computations as part of the mining process as well as turn a store of value and medium of exchange into a decentralized worldwide computing engine and openly verifiable data store.
Notably, in addition to tracking ownership of digital currency, Ethereum also focuses on running the programming code of a range of decentralized applications (dApps). It also allows developers to raise funds for their own applications.
One of the key features of Ethereum is gas – a unit that measures the amount of computational effort required to execute specific operations on the Ethereum network. This determines the costs of transactions that depend on bandwidth usage, storage requirements, and complexity.
Ether is a necessary element for operating the Ethereum platform. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, Ether is the incentive ensuring that developers write quality applications (wasteful code costs more) and that the network remains healthy (people are compensated for their contributed resources).
Ethereum describes itself as “the world’s programmable blockchain.” Launched back in 2015 by Vitalik Buterin and Joe Lubin, it has become the second cryptocurrency in terms of popularity and market cap, surpassed only by Bitcoin.
The auction started on Friday and saw a fierce bidding war between two prominent bidders, Memeland, a crypto project, and GiganticRebirth, known within the crypto community as GCR.
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%.
Solana has outperformed Ethereum and other Ethereum Virtual Machine (EVM) Layer-2 solutions as regards its 24-hour trading volume.
A closer examination of past instances reveals a pattern: whenever FTX and Alameda Research executed similar large-volume transfers of Ether tokens, Ethereum price experienced a notable correction.
VanEck stated that Ethereum is a cash producing asset and thus its spot ETF could be more or equally successful to the Bitcoin ETFs.