$2 317
1H
-0.24%$5.57
24H
-9.26%$236.5
7D
-7.84%$197.1
30D
38.43%$643.3
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. 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).
As Bitcoin (BTC) and Ethereum (ETH) are classified as taxable assets by the US tax authorities, the proposed capital gains tax will also impact crypto investors who have held and earned returns on their digital currencies for a year now.
The market pull-back may also be linked to the possible cryptocurrency market crackdown caution that is probably scaring off some investors.
Coinbase Pro has announced support for ERC-20 based, stable coin Tether (USDT). The exchange confirmed trading will commence on Monday, April 26, if liquidity conditions are met.
As interest in crypto increases, there is also a surge in online trading fueled by retail investors.
Ethereum has hit a new ATH. Ethereum price is now up over 1400% in the past year.