What is the Ether Token?
This question is like asking, what is the value of USD for the economic system of the USA. Every system has a fuel to run that system, for example, $ is the backbone of the current economic system. Similar Ether is the central point to run the Ethereum ICO. Without this token, the whole Blockchain system of the Ethereum platform is going to be failed. This platform is specially designed for smart contracts. These contracts or bindings are playing an important role in today’s ICOS ecosystem and its importance is only going to rise in the coming years.
When we check the list of current ICOS we learn that most of them belong to Ethereum network and to rum them Ether is needed but where and why it is needed you might ask.
When anyone launched their own ICO using this platform, they have to pay some expenses and definitely Ethereum network was built for earnings and not for charity. These expenses are paid in a specific token and this token is Ether.
Ether token is currently the second most valued token in the market and the total market value is over 12.5Bn USD which is great. Once this price was over 50 USD but with the recent decline in crypto business the value of each crypto comes down and Ether is no exception. Ethereum ICO price is over $120 as of today.