ETHGas (GWEI) JPY Price

ETHGas Price Data

ETHGas (GWEI) currently has a price of ¥4.042 and is down -7.91% over the last 24 hours. The cryptocurrency is ranked 417 with a market cap of ¥8.5B. Over the last 24 hours, it saw ¥4.9B of trading volume. The token has a circulating supply of 2.1B tokens out of a total supply of 10B tokens.

GWEI is the native governance token of the ETHGas protocol, taking its name from the smallest commonly used denomination of Ether — the unit by which gas fees on the Ethereum network are measured and expressed.

Gas is the computational cost required to execute transactions and smart contracts on Ethereum. Every interaction with the network, from a simple token transfer to a complex DeFi operation, carries a gas cost denominated in gwei. The problem ETHGas is attempting to solve is that this system has historically been unpredictable — users compete in an open auction for block inclusion, which leads to volatile fees and uncertain execution timing.

ETHGas restructures how blockspace is allocated by turning it into a tradable, forward-looking market. Rather than bidding for inclusion at the moment of a transaction, protocols and participants can secure blockspace commitments in advance through futures-style instruments. Validators sell future blockspace, buyers lock in execution at known costs, and the result is a more structured and predictable environment for on-chain activity — including the potential for end users to interact with applications without directly handling gas fees at all.

GWEI sits at the center of this system as a governance instrument. Holders can stake their tokens to receive veGWEI, a non-transferable voting token that carries influence over protocol parameters, treasury decisions, and future upgrades. The project was founded by Kevin Lepsoe, a former financial engineering lead at Morgan Stanley, and has received backing from Polychain Capital and Amber Group.