ETH (Ethereum) decreased by 10.04% in the past 24 hours, currently trading at $1928.14

Gate News Bot Message, February 6th, according to CoinMarketCap data, as of press time, ETH (Ethereum) is trading at $1928.14, down 10.04% in the past 24 hours, with a high of $2709.53 and a low of $1748.63. The 24-hour trading volume reached $71.508 billion. The current market capitalization is approximately $2327.13 billion, ranking second.

Ethereum is a decentralized open-source blockchain network and software development platform powered by ETH. As a secure global foundation for the next generation of unstoppable applications, the Ethereum network is open to everyone, permissionless, and built and maintained by thousands of people, organizations, and users worldwide.

Ether (ETH) is the native cryptocurrency that drives the Ethereum network, used to pay transaction fees and secure the blockchain through staking. Beyond its technical applications, ETH is an open, programmable digital currency used for global payments, loan collateral, and value storage without reliance on any central entity.

Ethereum supports a diverse ecosystem of applications, including stablecoins for everyday digital payments, decentralized finance (DeFi) offering a 24/7 open financial system, Layer 2 networks enabling low-cost and near-instant transactions, privacy protection applications, and asset tokenization, among other innovative use cases. Currently, DeFi protocols lock in $11.45 billion in value, with $7.781 billion staked, and 19.87 million transactions in the past 24 hours.

Important recent ETH news:

1️⃣ Layer 2 Ecosystem Strategy Adjustment Causes Market Fluctuations
Vitalik Buterin recently proposed adjustments to the development direction of Layer 2, promoting faster independent development of these scaling solutions. The strategic upgrade of Layer 2 networks signifies an important evolution in the Ethereum ecosystem’s technical roadmap. These innovative measures may trigger short-term market reassessment, potentially exerting downward pressure on ETH prices.

This message is not investment advice. Investors should be aware of market volatility risks.