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The base currency is the currency that is being quoted. On this page, the base currency is Ethereum (ETH). The base currency indicates how much of the quote currency (or counter currency) is required to get one unit of the base currency.
On cryptocurrency exchanges, asset prices are quoted as currency pairs. They are usually written as XXX/YYY (e.g. ETH/CONTRACTIUM) or XXXYYY (e.g. ETHCONTRACTIUM). The first currency in this pair is the base currency (sometimes called the transaction currency). Often, the base currency is the accounting currency used to represent profits and losses for trades happening across this pair. The base currency is typically the currency being traded, and it is quoted or priced in the quote currency, which is the other part of the trading pair.
The quote currency is the currency that is used as a reference. It is always the second currency quoted in a currency pair (i.e. base/quote or ETH/CONTRACTIUM). On this page, the quote currency is CTU (CONTRACTIUM).The price of a trading pair is always displayed in the quote currency.
On cryptocurrency exchanges, the quote currency is almost always Bitcoin, Ethereum, a fiat/governmental currency, or a stablecoin (such as Tether or USDC). The quote currency is often referred to as the "secondary currency" or "counter currency."
Because traders are concurrently selling and buying cryptoassets, quotes are displayed in pairs. For example, when an investor trades across the ETH/BTC pair, they are -- at the exact same moment -- buying Ethereum and selling Bitcoin (or buying Bitcoin and selling Ethereum).
About Inverted Cryptoasset Trading Pairs
Inverted pairs are “synthetic pairs” and inversions of naturally occurring trade pairs. For example, this page currently displays the ETH/CONTRACTIUM pair. This trading pair (with Ethereum as the base currency and CTU as the quote currency) does not exist on any exchanges listed by us. But the un-inverted version of this trading pair (i.e. CONTRACTIUM/ETH) does exist on one or more cryptocurrency exchanges. You may click here if you’d like to un-invert this pair.
This page displays the most recent available data for the ETH/CONTRACTIUM trading pair. The most recently available data for this pair is from 147 days ago on 5/21/2019. Therefore, the data being displayed on this page is stale not because of shortcomings with our dataset, but because trading across this cryptocurrency trading pair is infrequent. The prices we’re reporting on this page are the last quoted prices, but lack of trading activity across this pair means that there hasn’t been recent price discovery and our quoted prices might not reflect current market values, illiquidity discounts, etc. Other pricing sites will report very old data as if it were current; we’ve decided against doing that.
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