Ether is Ethereum's native asset, used for network fees and staking. ETH/JPY quotes one Ether in yen; both Ether demand and the yen exchange rate affect that value.
History and development
Ethereum went live in July 2015, extending blockchain use beyond payments to programs known as smart contracts. A shared execution platform provided a foundation for decentralized finance and applications handling digital assets.
The Merge on September 15, 2022 changed its consensus mechanism from proof of work to proof of stake while preserving the existing ledger and assets. ETH remains the asset used for network fees and staking as the platform evolves.
References: Ethereum: The Merge
Comparing charts on this board
Compare ETH/JPY with ETH/USD and USD/JPY to separate asset demand from currency translation. Yen strength reduces dollar-based gains; yen weakness reinforces them.
BTC/JPY adds a common-currency asset comparison. Trace ETH outperformance to its timing, then check network updates and usage news for ETH-specific context.
Related charts: ETH / USD · USD / JPY · BTC / JPY
Official references: Ethereum: ETH