Daily fluctuations in the value of ETH/EUR can be over 15 per cent in either direction. This gives traders the opportunity to make impressive gains in a short period. The pair has also been known to fluctuate by more than 30% in a single month.

Ethereum was launched in 2015 by programmer Vitaly ‘Vitalik’ Buterin. It is an open-source platform utilising blockchain technology to create and execute distributed applications (DApps). The use of ‘smart contracts’ for transactions without third parties limits the possibility of fraud.

Although Ethereum is frequently used as the name of the associated cryptocurrency, it is in fact the system or network. Ether (ETH) is actually the native currency. In order to execute a transaction through the system, users need to have ETH.

The Ethereum project was crowdfunded in 2014 raising over $18m.

Compared with some other cryptocurrencies, there is no ETH maximum supply cap.

Ether can be created by mining whereby users receive a reward when they complete a mathematical task and verify transactions.

The Ethereum Alliance (EEA) organisation was developed to enhance Ethereum’s future usability.

There are various factors affecting the value of Ethereum. These include those that are specific to Ethereum itself and others relating to the crypto world generally. Those affecting Ethereum directly include the demand for ETH not driven solely by trading activities, the acceptance of the Ethereum system by an increasing number of financial institutions, the increased adoption of smart contracts hosted on the Ethereum platform which will in turn, create new users and therefore an increased demand for ETH, the degree of mining profitability and improvements in the system overall.

With regards to general factors related to the crypto world, changes in regulatory laws and regulations regarding the usage of cryptocurrencies, potential market manipulation, speculative trading and the number of crypto channels where ETH is available for trading also affect its value.

The Euro (EUR) was officially introduced in 1999 and is the official currency of the 19 countries that form the European Monetary Union (EMU) and the European Union (EU). The Euro is currently the second most influential currency in the world accounting for around 21% of international foreign currency reserves held by central banks.

Any negative or positive changes in the EU economy or within the individual countries such as employment rates, and even political events, can impact on the EUR exchange rate. Traders should therefore closely track the monetary policy and follow the economic news release calendar.

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