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Ether
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.
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The market might take a breather this weekend, says Singapore's QCP Capital.
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Fed policymakers maintained their outlook for three rate cuts by the end of the year, alleviating market concern of a more hawkish stance.
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CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security.
First Mover Americas: BTC's Drop Below $62K Is the Biggest Single-Day Loss Since FTX’s Collapse
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Standard Chartered Raises Year-End BTC Forecast to $150K, Sees 2025 High of $250K
The bank also predicted that approval of an ether ETF could be expected on May 23, leading to as much as $45 billion of inflows in the first 12 months and ETH climbing to $8,000 by the end of 2024.
