Everything You Need to Know About Ethereum (ETH)

As the crypto world's giant second only to Bitcoin, Ethereum is more than just a simple digital currency. It's a vast decentralized network, serving as the foundation for smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and countless decentralized applications (DApps). For anyone looking to enter the world of cryptocurrency, understanding Ethereum and its native currency, ETH, is a crucial first step.

This article will use the KuCoin platform as an example to provide you with a comprehensive guide on ETH, complete with a deep dive into its latest market dynamics.

 

If Bitcoin is considered "digital gold," Ethereum is more like "digital oil." The value of ETH isn't just in its tradable asset status; it's also the "fuel" for the Ethereum network, known as Gas fees. Every time a smart contract is executed, a transaction is made, or an NFT is minted or traded on the network, ETH is consumed. This inherent utility gives ETH a unique value, distinguishing it from many purely speculative tokens.

Ethereum's revolutionary nature lies in its open and programmable characteristics, which have given rise to the following core functionalities and ecosystems:

 

 

Recently, Ethereum has once again become a market focal point. According to the latest market data, the price of ETH has seen a staggering 200% rally over the past five months, re-establishing its status as "digital oil." Although the market has seen a recent pullback, with the price dipping to around $4,300, its fundamentals and institutional support remain robust. This strong momentum is not accidental and is driven by several key factors:

You can view the ETH real-time price chart on the KuCoin website for a more intuitive understanding of its market trend and price volatility. While short-term market volatility has increased, many analysts remain optimistic about ETH's long-term trajectory. Some believe that with continued institutional inflows and favorable macroeconomic conditions, the price of ETH could challenge the $7,500 to $8,000 range before the end of the year.

 

 

As one of the world's leading cryptocurrency trading platforms, KuCoin offers secure and convenient ETH trading services. Whether you are a beginner or an experienced trader, you can find a suitable trading method on KuCoin.

First, you need to complete account registration on the KuCoin official website. To protect your funds and unlock all trading features, it is recommended that you complete identity verification (KYC). This usually takes only a few minutes but significantly enhances your account security.

On KuCoin, you can acquire ETH in several ways:

Once your account is funded, you can start trading. Log in and find "Trade" or "Spot Trading," then enter ETH in the search bar. You can select a trading pair like ETH/USDT. You can go directly to the KuCoin ETH trading page to start trading.

On the trading interface, you can choose different order types:

After the transaction is complete, you can view your ETH holdings in "Assets" or "Wallet." You can also use the KuCoin converter to quickly check the ETH value in USD, allowing you to stay on top of your asset value at any time.

 

In 2022, Ethereum completed the historic "Merge," officially transitioning from the energy-intensive Proof-of-Work (PoW) mechanism to the efficient Proof-of-Stake (PoS) mechanism. This major upgrade not only reduced Ethereum's carbon footprint by 99.95% but also paved the way for future scaling upgrades (such as sharding), which are expected to fundamentally resolve the network's long-standing congestion and high gas fee issues. As the Ethereum ecosystem continues to grow, this transition is crucial to its long-term value and appeal.