Live Ethereum Price Data
The current Ethereum price is approximately 3.910670 BNB, with a 24-hour trading volume of 36,248,492 BNB. Over the past day, Ethereum has increased by +4.92%. However, in the last hour, the price experienced a slight decrease of -0.48%. The total and circulating supply of ETH is valued at $120,717,217.54, and it currently holds the #2 ranking on CoinGecko.
Key market metrics:
- Circulating Supply: $120.72M
- Fully Diluted Market Cap: $313.13B
As of today, converting 1 Ethereum (ETH) to BNB yields approximately 3.91067 BNB based on current exchange rates. This rate fluctuates constantly due to market dynamics.
Understanding Ethereum (ETH)
Ethereum is a decentralized, open-source blockchain system that features its own cryptocurrency, Ether (ETH). It is the second-largest cryptocurrency by market capitalization, following Bitcoin. Ethereum's blockchain technology enables smart contracts and decentralized applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party.
The project was initiated in 2013 by Vitalik Buterin, a Russian-Canadian programmer. Ethereum's blockchain was designed to expand the utility of cryptocurrencies by allowing developers to create their own special applications.
How Ethereum Works
Ethereum-based applications are built using smart contracts—self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. These smart contracts run on the Ethereum Virtual Machine (EVM), a decentralized Turing-complete virtual machine that executes scripts using an international network of public nodes.
The Ethereum network transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism in an upgrade known as "The Merge." In PoS, validators are chosen to create new blocks and validate transactions based on the amount of Ether they hold and are willing to "stake" as collateral. This system is designed to be more energy-efficient and secure than PoW.
Ethereum Gas Fees
Ethereum gas refers to the fee required to successfully conduct a transaction or execute a contract on the Ethereum blockchain. Gas fees are paid in Ether and are measured in Gwei (1 Gwei = 0.000000001 ETH). The total cost of a transaction is calculated by multiplying the gas units (limit) by the sum of the base fee and tip. These fees compensate validators for the computational energy required to process and validate transactions.
Storing and Acquiring ETH
Ether can be stored in various types of digital wallets, including hardware wallets, software wallets, and mobile wallets. These wallets allow users to interact with their Ethereum balances and execute transactions on the blockchain. Explore more strategies for managing and securing digital assets effectively.
Ethereum is available for trading on numerous centralized and decentralized exchanges. Platforms aggregate multiple exchanges, allowing users to monitor thousands of trading instruments in real-time and execute trades efficiently.
Frequently Asked Questions
What determines the price of Ethereum?
The price of Ethereum is influenced by market supply and demand, investor sentiment, network adoption rates, technological developments, and broader macroeconomic factors. Like other cryptocurrencies, it experiences volatility based on these variables.
How does Ethereum differ from Bitcoin?
While both are cryptocurrencies, Ethereum was designed as a platform to facilitate programmable contracts and applications via its own programming language. Bitcoin was created primarily as an alternative to national currencies and serves as a store of value.
What are the risks of investing in Ethereum?
Investing in Ethereum carries risks including price volatility, regulatory changes, technological vulnerabilities, and market competition. Investors should conduct thorough research and consider their risk tolerance before participating.
How can I safely store my ETH?
ETH can be stored in hardware wallets for maximum security, or in reputable software and mobile wallets for convenience. Always use strong passwords, enable two-factor authentication, and keep your private keys secure and offline.
What is Ethereum gas and why is it necessary?
Gas is the unit that measures the amount of computational effort required to execute operations on the Ethereum network. It prevents spam on the network and allocates resources proportionally to the incentive provided by the request.
Can Ethereum be converted to other cryptocurrencies?
Yes, Ethereum can be converted to other cryptocurrencies like BNB, Bitcoin, or stablecoins through various cryptocurrency exchanges. The exchange rate depends on current market prices and may include trading fees. View real-time tools for tracking conversion rates across multiple platforms.