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Ethereum has recently begun to rebound after experiencing a sustained and sharp decline. In September, Ethereum even fell to a price of about 1,500 US dollars. Such price fluctuations have always affected the emotions of investors. As the second largest cryptocurrency by market value, everyone Everyone is full of expectations for Ethereum, hoping that it will return to the value of the bull market. Many investors wonder how much RMB an Ethereum is worth? I am very concerned about it. According to official data, one Ethereum coin is worth about 16,940 yuan. The editor of the currency circle below will talk about the market situation of this Ethereum coin in detail.

## How much RMB is one Ethereum worth?

According to official data, one Ether currency is worth 16,940 yuan. Ether, or ETH for short, is the native cryptocurrency of Ethereum. It is a pure digital asset and can be used for transfers, transactions, value storage, payment of blockchain usage fees, etc. It is the only approved and approved circulating currency on Ethereum. It can be said that Ethereum is the pass on the Ethereum chain, because as long as the Ethereum blockchain is used for any activity, including transfers, transactions or creating new applications, users You must pay the handling fee recognized by Ethereum, which is Ethereum.

Ethereum, similar to Bitcoin, relies on the blockchain to store and secure transactions. In addition to transaction records, smart contracts are also stored on the Ethereum blockchain. We can think of Ethereum as a ledger that records all activities on the network. It is open to the outside world and completely transparent. Anyone can track past content.

Copies of this ledger are distributed across a global network of computers called "nodes." Nodes perform various tasks on the network, including validating and recording transactions and smart contract data. This architecture allows participants to own a copy of the blockchain and jointly verify it, ensuring the validity of content added to the blockchain.

## Is Ethereum legal in China?

Ethereum is legal property in China, but it is not a legal currency. No financial activities related to Ethereum can be carried out in China, but it can be transferred or donated privately. Ethereum (ETH) is a cryptocurrency on the Ethereum platform, and Ethereum is an open source public blockchain platform with smart contract functions. Ethereum can be used to develop various decentralized applications, and Ethereum is the payment method and incentive mechanism for these applications.

According to the "Notice on Further Preventing and Dealing with Speculation Risks in Virtual Currency Transactions" jointly issued by the People's Bank of China and other ten departments, virtual currencies do not have the same legal status as legal tender, and any business activities related to virtual currencies are illegal financial activities. This means that within China, no transactions, settlement, clearing, exchange, storage, custody, mortgage and other services related to virtual currencies are allowed, nor are virtual currencies allowed to be accepted or used as payment and settlement tools. In addition, overseas provision of services to Chinese residents via the Internet is also prohibited.

This does not mean that Ethereum does not have any legal protection in China. According to a ruling by the People’s Court of Futian District, Shenzhen City, Guangdong Province, China, ether is legal property and protected by Chinese law, meaning Chinese people will not be prohibited from owning or transferring the cryptocurrency and can file a lawsuit against them in the event of a dispute or infringement. File a lawsuit in court to protect your rights.

All of the above is the answer to the question of how much RMB an Ethereum currency is worth. Ethereum is undoubtedly the main innovation place with the most accumulated experience in blockchain technology and the most diverse ecology. With the emergence of Solidity smart contracts, the infinite possibilities of the decentralized world have been opened up, and many breakthrough applications and concepts have been born, creating a prosperous era of DApp, the most critical applications and technological progress such as DeFi, NFT, and Layer 2, but many It starts from Ethereum and then expands to other public chain ecosystems. In short, with the development of technology, it is very likely that we will witness major changes brought about by the future upgrade of Ethereum in the future, and the entire blockchain world will be more colorful by then.