Ethereum today: price as of May 26
According to the Live Coin Watch portal, today, May 26, Ethereum (ETH) is trading at a price of $3,750.5.
This price positions it up 1.0% from its value 24 hours ago and up 1.2% from the same day last week.
The current dominance (market price) of the token is $442,835,880,160.
Ethereum is an open-source, decentralized platform that runs on its own blockchain and allows every developer to program new types of applications. Many define Ethereum as a digital supercomputer on which anyone can run applications developed by programmers anywhere in the world.
Created by young Canadian-raised Russian Vitalik Buterin in 2015 using blockchain technology, the cryptocurrency asset stood out from the start for being the first to include programmable smart contracts in its blocks.
In 2018, Ethereum was a preliminary project. Today, it is the second highest-ranked crypto asset by market capitalization and one of the most commonly used blockchains for DeFi (decentralized finance) and NFTs (unique and unrepeatable digital assets increasingly used for digital art).
Ethereum has created the ERC-20 network, a blockchain with smart contracts built into the Singularity programming language, where new projects are being created that need to take advantage of its vast computing power and interoperability.
Cryptowinter
In the context of a global economic crisis, unprecedented rates of inflation in the United States and Europe, as well as a war between Russia and Ukraine, which no one knows when and how it will end, Cryptocurrencies are experiencing one of their worst moments and experts say that this crypto winter could last up to a year and a half.
In the report entitled “Cryptowinter: keys to understanding the fall of cryptocurrencies around the world”BBC journalist Cecilia Barria explains that this sharp drop came on the heels of the best historical moment in the cryptocurrency world.
In just five years, the value of Bitcoin has risen from $1,000 to $68,000.
The journalist notes that This is determined by the “fairly simple” rule of supply and demand.. “When more people want to buy, the price goes up. And when no one is interested, the price falls,” he sums up. But he clarifies that it is not the same as on Wall Street. “Cryptocurrencies are not shares of a company. As you already know, this is digital money, which means that no one regulates them, they are not issued by any authority and, of course, there are no banks that store them. So, the way they move out of control, the ups and downs are crazy— Barria clarifies in the report.
Term cryptowinter or crash cryptocurrency was coined during the first big cryptocurrency crash, which occurred shortly before the last boom, in the one when Bitcoin reached $69,000 in November 2021..
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