What is Ethereum — plain English
Ethereum is a programmable blockchain. Beyond being a coin (ETH), it runs smart contracts — self-executing code that powers most stablecoins, DeFi apps and NFTs. ETH is the fuel you spend to use the network, so demand for the network tends to support the price.
What makes Ethereum move
Network activity and demand for block space (gas fees)
Growth or contraction of DeFi and stablecoins built on Ethereum
Staking flows — ETH locked to secure the network
Spot Ethereum ETF flows and regulatory decisions
Layer-2 scaling adoption (Arbitrum, Base, Optimism)
Competition from other smart-contract chains
The same macro and risk-sentiment forces that move Bitcoin
What happened at real events
Actual price movements at real, dated events — not simulated.
September 15, 2022
The Merge — Ethereum moves from Proof of Work to Proof of Stake
Before
$1,600
→
After
$1,470
↓
A landmark upgrade that cut Ethereum's energy use by roughly 99% and ended miner issuance. It had been priced in over months, so ETH drifted lower on the news alongside a weak broader market.
Where to trade Ethereum
Regulated crypto exchanges in our database that list ETH, ranked by taker fee. Every registration is verified on the issuing regulator's public register.
Fees shown are the standard taker fee before volume discounts. Use our free exchange check tool to compare the full fee structure and confirm registration before you open an account.
Key things to know about Ethereum
| Factor | What it means |
|---|---|
| Supply | No fixed cap; issuance offset by fee burning |
| Consensus | Proof of Stake (since 2022) |
| Trading hours | 24/7 — never closes |
| Staking | ETH can be staked to earn yield |
| Use case | Smart contracts, DeFi, stablecoins, NFTs |
| Custody | Self-custody or exchange custody |
Cryptocurrencies are highly volatile and can lose value quickly. Ethereum can move sharply in a single day. Only trade or hold what you can afford to lose, and keep funds on registered, reputable exchanges or in self-custody.