First Mover Asia: Fed Tightening, Economic Woes Continue to Spook Crypto Investors
Bitcoin and ether rose and fell; altcoins have a mixed day.
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Jan 18, 2022 at 11:30 p.m. UTC
Jan 18, 2022
Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, functioning as a fuel for operations within the network. It serves multiple purposes: as a digital currency, it can be bought, sold, and held as an investment; as a utility token, it's used to pay for transaction fees and computational services on the Ethereum network. Ether is integral to running decentralized applications (dApps) and executing smart contracts on Ethereum, providing the necessary resources for these operations. As Ethereum evolves, especially with upgrades like Ethereum 2.0, Ether's role remains central, facilitating not just transactions but also the broader ecosystem of decentralized finance (DeFi) and various blockchain-based applications.