Crypto

ETH/USD: Ethereum / US Dollar

A CFD on Ethereum priced in US dollars. You take exposure to the price without holding the underlying asset.

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What happens next

Choose live or demo, and say where you live. On this website. No name and no e-mail address is asked for here, and nothing is stored.
Register in the client portal. Your name, e-mail address, a password and your country; acceptance of the Terms and the Risk Disclosure. Then you confirm your e-mail address.
Demo: choose your virtual funds and open the terminal. Live: upload your identity documents; an account is opened once they are approved. Live trading is not yet connected.

Market DNA

Below, ETH/USD is taken apart: its class, its contract, its hours and what is connected to it. Structure, not a signal.

Market DNA

What ETH/USD is made of.

Its class, its contract, the hours it lives in and the institutions, releases and ideas connected to it.

This is structure. It is not a score and it is not a signal: it tells you what the instrument is, not what it will do.

BaseETHEthereum

QuoteUSDUS Dollar

The price of ETH/USD is the amount of USD (US Dollar) needed for 1 ETH.

Asset class: Crypto
Contract: CFD, quoted in US dollars per ETH
Platform symbol: ETHUSD
Typical sessions: Underlying markets trade every day. Availability on the platform may include scheduled breaks.See the sessions on the World Market Clock
Concepts: Volatility Liquidity

Trading conditions

As published by GIO4X.

Spread from: 2.0 USDminimum, widens with market conditions
Leverage: 1:20depends on instrument and jurisdiction
Minimum lot: 0.01
Contract: CFD, quoted in US dollars per ETH
Platform symbol: ETHUSD

IndicativeSource: GIO4XIndicative trading conditions published by GIO4X. Not a live quote; actual spreads and requirements vary with market conditions and account type.

All trading conditions

On the 777 Raptor demo

Demo symbol ETHUSD. How the demo terminal is set up, not GIO4X’s specification for live trading, which is not yet published.

Contract size, 1.00 lot: 1 ETH; Sizes from 0.01 to 100 lots, in steps of 0.01.
A move of 1.00 in the price, on 1.00 lot: 1 USD; 1.00 × the contract size. A pip is a convention of currency pairs; this instrument has none.
Margin per 1.00 lot at 1:100: not available: reading the simulated price; contract size × price ÷ leverage
Margin per 1.00 lot at 1:500: not available: reading the simulated price; 1:500 is the “up to” figure the account types publish: a ceiling, not what an instrument or a client is given

Contract data read from the demo terminal. Demo prices are simulated by GIO4X’s own engine; they are not market prices. Swap rates are not published.

Third-party chart

ETH/USD on a daily chart

The chart is supplied by TradingView and stays unloaded until you ask for it. Loading it connects your browser to TradingView’s servers.

Third partyChart by TradingViewThird-party data for Ethereum / US Dollar, not supplied or verified by GIO4X and not a GIO4X price. Symbol BITSTAMP:ETHUSD, UTC.

Before you trade it

Work the numbers. Know the words.

Tools

All tools

Glossary

Full glossary

Profile

Ethereum: the network behind the price.

The facts in brief; the sections that follow give the reasoning. General education about the network itself. It states no price, market value or ranking, makes no forecast and is not advice.

What the network is for: Running programs, called smart contracts, that anyone can publish and use: lending, exchanges, tokens issued by others. Ether is the coin that pays for running them.
How new units are issued: To the validators who secure the network. Against that, part of every transaction fee is destroyed.
Is the supply capped?: No. The total rises when the network is quiet and can fall when it is busy.
How transactions are confirmed: By proof of stake. It used proof of work until 2022.
Custody: A coin is controlled by whoever holds its private key. Held yourself, there is no intermediary to fail and no one to restore a lost key. Left with an exchange, it is a claim on that exchange.
What a CFD on it gives: Exposure to the change in a quoted price, upwards or downwards, usually with leverage, through a contract with a provider.
What a CFD does not give: Any coin. Nothing can be withdrawn, sent, spent or used on the network, and the provider is the counterparty. Ether that is staked earns newly issued coins. A CFD earns none, and a position held overnight usually pays a financing charge instead.

Confirmation, in plain words

Proof of work: computers compete to solve a puzzle that takes real electricity to attempt. The winner adds the next block of transactions. Rewriting the record would mean redoing that work faster than everyone else together.

Proof of stake: holders lock up coins as a deposit and take turns proposing and approving blocks. A participant who breaks the rules can lose part of the deposit. The cost of cheating is the coins at risk, not electricity.

The risks particular to it

The applications on the network are written by independent developers. Flaws in them have caused large losses, and the price has fallen on such news though the network worked as designed.
The rules of the network are changed by scheduled upgrades more often than Bitcoin’s. Each is a change to working software.
At moments of heavy demand the fee for a transaction has risen to many times its usual level, and moving coins between venues has become slow.
It usually moves with Bitcoin, and by more.

These come on top of the risks of any leveraged product, which are set out in the risk warning on this page.

In depth

What is particular to Ethereum / US Dollar.

Ethereum is a network for running programs, called smart contracts, and ether is the coin used to pay for running them. Where Bitcoin records balances, Ethereum hosts applications: lending, exchanges, tokens issued by others, and further networks built on top of it. It has no cap on supply, and since September 2022 it has been secured by staked coins instead of mining.

General education about the underlying market. It states no current price or rate, makes no forecast and is not advice. What GIO4X offers on this instrument is in the trading conditions on this page, not here.

What moves it

Demand to use the network: Every transaction pays a fee in ether, and the fee rises when more people want to transact than a block can hold. Activity in the applications built on the network therefore creates demand for the coin. When activity moves elsewhere or falls, that demand falls with it.
Bitcoin and the wider market: On most days ether moves in the same direction as Bitcoin, and usually by more. The ratio between the two is followed as a measure of whether investors currently favour the largest asset or the rest. News specific to Ethereum shows in that ratio more clearly than in the dollar price.
Issuance and burning: New ether is issued to those who secure the network, and part of every transaction fee is destroyed. When the network is busy, more is destroyed than issued and the supply shrinks; when it is quiet, the supply grows. The net figure is a result of activity, not a fixed schedule.
Staking: Holders can lock ether to help validate transactions and earn newly issued coins for it. Staked coins cannot be sold instantly, since leaving takes time, which affects how much is readily available to trade. The reward rate falls as more is staked.
Networks built on top: Much activity has moved to secondary networks that process transactions cheaply and record a summary on Ethereum. An upgrade in March 2024 made that record much cheaper to post. The effect on demand for ether is debated: more use of the system as a whole, and lower fees paid on the main network.
Listed funds: Exchange-traded products holding ether began trading in the United States in July 2024. Their daily inflows and outflows are published and are read as a measure of demand from conventional investors.

Mechanics

How it is quoted and built.

Proof of stake: Since the change known as the Merge in September 2022, blocks are proposed and approved by validators who have put up ether as a stake. A validator that breaks the rules can have part of its stake destroyed. The change ended mining on Ethereum and cut the network’s electricity use to a small fraction of what it had been.
Gas: The work a transaction asks of the network is measured in units of gas, and the fee is the gas used multiplied by a price that rises and falls with demand. A simple transfer needs little gas and a complex contract call needs much more. The fee is paid whether or not the transaction achieves what its sender intended.
The base fee is burned: Since an upgrade in August 2021, the main part of each fee, the base fee, is destroyed, and only a tip goes to the validator. This is the mechanism that can make the supply fall.
Ether and tokens: Thousands of other tokens exist on the Ethereum network, including most of the large dollar-linked stablecoins. They are not ether, and their prices are separate. Ether is the only asset that can pay the network’s fees.

Not the same thing

The market itself, and a contract on its price.

Holding ether yourself: A holder with the private key can transfer ether, stake it, and use it in applications on the network. The holder also bears the risks of doing so: a lost key, a mistaken address, or a flawed contract that cannot be undone.
Staking rewards: Staked ether earns newly issued coins. A CFD on the price earns none: it follows the price alone, and a long position usually pays a financing charge where the staked coin would have received a reward.
A CFD on the price: A CFD cannot be sent to an address, used to pay gas or placed in a contract. It is a claim on a provider for the change in a quoted price, usually with leverage, and it carries the provider as counterparty.

Over time

Events in the life of the contract.

Scheduled upgrades: Ethereum changes more often than Bitcoin, through named upgrades agreed by its developers in public calls and activated at a set point. Besides those of 2021, 2022 and March 2024, an upgrade in April 2023 first allowed staked ether to be withdrawn. Dates are proposed, tested and sometimes postponed.
The 2016 fork: In 2016, after funds were drained from a large contract known as The DAO, most participants adopted a change that returned them. Those who refused carried on with the unaltered record, which continues as Ethereum Classic, a separate coin. It is the standard example of a network splitting over a matter of principle.
Contract failures: Applications on the network are written by independent developers, and flaws in them have led to large losses. The price of ether can fall on such news although the network itself has worked as designed.
Congestion: At moments of extreme demand, fees have risen to many times their usual level and transactions offering too little have waited. Moving ether to or from an exchange then becomes slow and costly, and prices between venues can separate.

These describe how such events work in general. How GIO4X treats them on its own contract (adjustments, rollover dates, suspensions) is a trading condition and is not yet published.

Timetable and sources

What is scheduled, and where the facts come from.

Worth knowing the timetable of

Named network upgrades, as scheduled by the core developers
The Ethereum core developers’ regular public calls
Daily flow figures published for the listed ether funds
The amount of ether staked and the queue to enter or leave staking
Monthly and quarterly expiry of ether futures and options
Weekends, when liquidity is thinner

Named, never dated: dates move. The Economic Events page explains the main releases.

Primary sources

ethereum.org: developer documentation and upgrade history
Ethereum Improvement Proposals (EIPs), including EIP-1559 on the fee market and EIP-4844
Ethereum Foundation: blog announcements of network upgrades
Ethereum consensus-layer and execution-layer specifications (public repositories)

Named by publisher and series, so each can be found from the publisher itself. GIO4X has no connection with them.

What would a trade in it cost?

The cost of a trade is the spread, any commission, and financing for each night it is held. The Cost Lab works the three out for a day trade, an overnight position and a longer hold, from figures you enter. A complete total also needs the swap rates, which are not yet published; the Lab shows which input is missing instead of a total that only looks complete.

Work it out in the Cost Lab

The risk, in ordinary type.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

ETH/USD is traded on margin. Educational information, not investment advice or a recommendation to trade.

Risk disclosure

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