Ethereum
ETH-USD
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About Ethereum
By Liveworldmarket Editorial Team · Last reviewed 29 June 2026
Ethereum (ETH) — A Practical Guide
Ethereum is the second-largest cryptocurrency by market capitalisation and the largest smart-contract platform by total value locked (TVL) and developer activity. The native token, ether (ETH), is used to pay transaction fees ('gas') on the Ethereum blockchain. Unlike Bitcoin which is primarily a monetary store of value, Ethereum is a programmable computing platform that hosts thousands of decentralised applications (dApps), decentralised finance (DeFi) protocols, NFT marketplaces, layer-2 scaling networks (Arbitrum, Optimism, Base) and tokenised real-world assets.
ETH transitioned from energy-intensive proof-of-work mining to proof-of-stake validation via 'The Merge' on 15 September 2022 — eliminating ~99.95% of Ethereum's prior energy consumption. Subsequently the EIP-1559 fee-burning mechanism (introduced August 2021) combined with proof-of-stake issuance has made ETH net-deflationary during high-network-activity periods.
History & contract origins
Ethereum was conceived by Vitalik Buterin in late 2013 and the mainnet launched on 30 July 2015. The first ICO (initial coin offering) sold 60 million ETH for around $0.30 each, raising approximately $18 million for the Ethereum Foundation. ETH crossed $1 in 2016, $100 in mid-2017, $1,000 in early 2018 (the first major peak), crashed to $80 by December 2018, recovered through 2020-21 to an all-time high of $4,891 in November 2021, and has traded in a $1,500-4,500 range through 2022-26 with periodic peaks and troughs.
Major Ethereum milestones: 2016 DAO hack (and the resulting Ethereum / Ethereum Classic chain split), 2017 ICO boom, 2020 DeFi summer, 2021 NFT boom, 2022 Merge to proof-of-stake, 2023 Shapella upgrade enabling staking withdrawals, 2024 Dencun upgrade reducing layer-2 fees, 2025 spot ETH ETF approval in US.
Trading hours & session layout
Ethereum trades 24/7/365 like Bitcoin. CME-listed ETH futures provide regulated exposure:
| Spot ETH availability | 24/7/365 |
| CME ETH futures session | Sun 03:30 - Sat 02:30 IST |
| Highest volume window | Asia evening + Europe morning (12:00 - 18:00 IST) |
Holiday calendar (typical annual closures)
Listed below are the major scheduled closures for the underlying exchange. Exact dates shift year-to-year — always verify against the exchange's official calendar before holding overnight positions across a holiday boundary.
| Holiday | Typical date |
|---|---|
| Spot crypto - never closed | |
| CME ETH futures - same as CME equity futures calendar |
How to read this tape
Read ETH alongside three signals. First, BTC dominance ratio (BTC market cap / total crypto market cap) — when BTC dominance rises, ETH tends to underperform; when dominance falls, ETH tends to outperform. Second, Ethereum on-chain activity — daily transactions, active addresses, gas fees, and total value locked in DeFi protocols. Third, ETH supply dynamics — the difference between ETH issued via staking rewards and ETH burned via EIP-1559 determines whether ETH is net inflationary or deflationary; deflationary periods are typically bullish.
ETH/BTC ratio is a widely-tracked relative-value metric. A rising ETH/BTC ratio suggests altcoin / smart-contract platform outperformance; a falling ratio suggests bitcoin dominance and risk-off positioning.
Frequently asked questions
What's the difference between Bitcoin and Ethereum?
Bitcoin = primarily a monetary store of value (digital gold). Ethereum = a programmable smart-contract platform that hosts dApps, DeFi, NFTs and layer-2 networks. ETH has utility as the 'gas' fuel for the Ethereum economy beyond its store-of-value role.
What was 'The Merge'?
Ethereum's transition from proof-of-work mining to proof-of-stake validation, completed on 15 September 2022. The Merge eliminated ~99.95% of Ethereum's energy consumption and laid the foundation for the deflationary ETH supply dynamics post-EIP-1559.
Does Ethereum have a supply cap like Bitcoin?
No hard cap, but supply dynamics are net deflationary during high-activity periods because of EIP-1559 fee burning. Annual ETH issuance via staking is roughly 0.5%, while burning during high-activity periods can exceed that. Net supply has been roughly flat or declining since the Merge.
Can I stake ETH?
Yes — either by running your own validator (32 ETH minimum), via staking pools (Lido, Rocket Pool), or via centralised exchanges (Coinbase, Binance). Staking yields are typically 3-5% annually in ETH terms. Tax treatment of staking rewards in India is unclear; consult a CA.
Can Indian residents invest in ETH ETFs?
Indirectly via the LRS route. US-listed spot ETH ETFs (BlackRock ETHA, Fidelity FETH and others) were approved in mid-2024. India-domiciled ETH ETFs are not currently available; SEBI has not approved crypto ETFs as of early 2026.
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Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.