Ethereum today: the price as of January 24

Ethereum (ETH) is trading today, January 24, at US$1,637.67, according to the Live Coin Watch portal.

This price positions it 1.0% compared to its value 24 hours ago and 1.05% compared to the same day last week.

The current domain (market price) of the token is US$200,407,944,877.

Ethereum is a decentralized open source platform that runs on its own blockchain and allows each developer to write new types of applications. Many define Ethereum as a digital supercomputer where any user can run applications developed by programmers anywhere in the world.

The cryptoactive, created by the young Russian raised in Canada Vitálik Buterin in 2015 using blockchain technology, stood out from the beginning for being the first to include programmable smart contracts in its blocks.

In 2018 Ethereum was an interim project. Today it is the second crypto asset with the highest market capitalization and one of the most used blockchains for
DeFi (Decentralized Finance) and NFT (unique and unrepeatable digital assets, increasingly used for digital works of art).

Ethereum created the ERC-20 network, a blockchain with embedded smart contracts under the Singularity programming language where new projects that need to use its extensive computing power and interoperability are mounted.

Criptoinvierno

In a context of global economic crisis, with unprecedented inflation rates in the United States and Europe, and a war between Russia and Ukraine that nobody knows when -or how- it will end, cryptocurrencies suffer one of their worst moments y
specialists say that this crypto winter might last up to a year and a half.

In a report titled “Crypto winter: keys to understand the fall of cryptocurrencies worldwide”BBC journalist Cecilia Barria explains that this abrupt fall came just following the best historical moment in the crypto world.
In just five years, a bitcoin went from being worth $1,000 to $68,000.

The journalist points out that is determined with a “fairly basic” rule, supply and demand. “When more people want to buy, the price goes up. And when nobody is interested, the price goes down, ”she summarizes. But he clarifies that the same thing is not happening on Wall Street. “Cryptocurrencies are not shares of a company. They are, as you know, digital money, and that means that no one regulates them, no authority issues them and, of course, there are no banks that keep them. Then, how they move without any control, the ups and downs are frantic”, Barría specifies in the report.

The term cryptoinvierno or crash crypto was minted in the first big cryptocurrency crash, which came just before the last boom, in in which bitcoin touched US$69,000, in November 2021.

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