What is Ethereal (ETRL) Crypto Coin? The Truth Behind the Layer-1 Blockchain Claim

If you’ve heard of Ethereal (ETRL) and are wondering if it’s the next big thing in crypto, you’re not alone. But here’s the reality: Ethereal isn’t what most people think it is. It’s not Ethereum. It’s not a well-known altcoin like Solana or Polygon. And despite claims of being a high-speed, gas-free Layer-1 blockchain, there’s almost no evidence it’s actually being used by anyone.

Is Ethereal a Blockchain or Just a Token?

This is the first big confusion around Ethereal. Some sources say ETRL is a standalone blockchain - a Layer-1 network designed to compete with Ethereum and Solana. Others say it’s just an ERC-20 token running on the Ethereum network. Which one is true?

The answer? Both, and neither. Ethereal’s official documentation claims to be a Layer-1 blockchain with its own network, promising EVM compatibility, 65,000 transactions per second, and zero gas fees. But if you check the contract address on BscScan or Etherscan, you’ll find that ETRL is actually an ERC-20 token on the BNB Smart Chain, with the address 0x22714c3532b4D52256f3c683e34170266b888D55. That means it’s not a blockchain at all - it’s a token built on top of another blockchain. This contradiction isn’t a small detail. It’s a red flag.

Zero Circulation, 50 Million Tokens

Even stranger? According to Coinbase, out of 50 million ETRL tokens ever created, zero are in circulation. That’s not a typo. No one is holding it. No one is trading it. No one is using it. Meanwhile, Livecoinwatch lists a price of $0.00087, but that’s based on almost no trading volume. If nobody owns it, how can it have a price?

This isn’t how legitimate projects operate. Real cryptocurrencies have active wallets, real users, and verified transactions. Ethereum has over 100 million active addresses. Solana processes millions of transactions daily. Ethereal? The blockchain explorer shows no activity. The token’s supply is locked. No one is staking it. No one is farming it. The whole ecosystem is a ghost town.

Who’s Even Talking About It?

Look at the community. Ethereal’s official Twitter account has fewer than 300 followers. Compare that to Solana’s 3.8 million or Ethereum’s 3.2 million. There are no active Reddit threads about ETRL on r/CryptoCurrency. No developer forums. No GitHub repositories with code. No Discord servers with real conversations. No YouTube tutorials explaining how to use it. No blog posts from developers who’ve built on it.

When a project claims to be for enterprises, DeFi, and Web3 gaming, you expect to see at least one live dApp. You expect to see developers asking for help on Stack Overflow. You expect to see real users complaining about bugs or praising features. With Ethereal? Nothing. Not a single verified use case exists in public records.

Technical Claims That Don’t Add Up

The project’s website says it uses a “leaderless Proof-of-Stake Byzantine Fault Tolerance” system that gives “absolute finality.” That sounds impressive - until you realize no independent audit, no whitepaper with detailed architecture, and no open-source code support those claims. If it were a real Layer-1 blockchain, you’d see detailed technical specs on GitHub, public validator lists, and block explorers showing live data. You’d see block times, gas-free transaction logs, and developer toolkits. You don’t.

It also claims to support zk-SNARKs, optimistic rollups, and sidechains. But again - no code. No testnet. No documentation for developers. These aren’t buzzwords you throw into a marketing page. They’re complex technologies that take years to build and test. If Ethereal had them, the crypto community would be talking about it. Instead, CoinCodex says they can’t even generate a price prediction because there’s not enough trading data.

How Does It Compare to Real Layer-1 Blockchains?

Let’s put Ethereal next to the real players:

• Ethereum: Processes 15-30 TPS, high gas fees, but has over 4,000 dApps, 100M+ addresses, and the largest developer base in crypto.
• Solana: Handles up to 65,000 TPS, low fees, 500+ active dApps, and a thriving DeFi and NFT ecosystem.
• Polygon: EVM-compatible, scales Ethereum, 7,000 TPS, used by big names like Disney and Starbucks.
• Ethereal (ETRL): Claims 65,000 TPS and zero gas fees, but has 0 tokens in circulation, no dApps, no developers, and no real network activity.

The difference isn’t just scale - it’s existence. Ethereum and Solana are built by teams of hundreds of engineers, backed by billions in funding, and used by millions. Ethereal? It exists as a token on a blockchain, with no real infrastructure behind it.

Why Does This Even Exist?

You might wonder: if it’s not real, why is it listed on exchanges like Binance and Bitget? The answer is simple - low-effort token listings. Many exchanges allow anyone to create and list a token for a small fee. There’s no vetting process. No requirement for code, no need for a working product. As long as someone pays, the token gets listed.

This is how pump-and-dump schemes get started. A small group creates a token, markets it with flashy claims (“gas-free!” “EVM-compatible!” “enterprise-ready!”), lists it on a few exchanges, and waits for retail investors to buy in. Then, they quietly sell their holdings. The price crashes. The project disappears. And the people who bought it are left holding worthless tokens.

ETRL fits this pattern perfectly. The launch date is unclear - some say 2017, others say 2023. The team is anonymous. The roadmap is vague: “upcoming DeFi integrations” and “events to foster engagement.” No dates. No deliverables. No proof.

Should You Buy Ethereal (ETRL)?

Short answer? No.

If you’re looking for a crypto project with real potential, ETRL isn’t it. It doesn’t have a network, it doesn’t have users, and it doesn’t have a team you can verify. The fact that it’s listed on major exchanges doesn’t make it safe - it just means the exchange doesn’t check for substance.

Even if you believe the claims, there’s no way to use it. You can’t build on it. You can’t stake it meaningfully. You can’t transfer it to a wallet and expect it to do anything. It’s a digital ghost.

There are hundreds of legitimate Layer-1 blockchains with active communities, real code, and proven track records. Why risk your money on one that doesn’t even exist?

What to Look for in a Real Crypto Project

If you’re evaluating any crypto project, ask these questions:

• Is there open-source code on GitHub?
• Are there active developers posting commits?
• Is there a live blockchain explorer with real transactions?
• Are tokens in circulation, or is the supply locked?
• Is there a real community - not just a Twitter account with 200 followers?
• Are there actual dApps running on the network?

If the answer to any of these is no, walk away. Ethereal fails every single one.

Final Thoughts

Ethereal (ETRL) isn’t a blockchain. It’s not a cryptocurrency. It’s a token with no network, no users, and no future. The claims sound good on paper - gas-free, fast, EVM-compatible - but they’re just marketing fluff with no technical backing.

There’s no mystery here. This isn’t a hidden gem. It’s a warning sign. If you see a crypto project with zero activity, anonymous developers, and a token supply that doesn’t circulate - don’t buy it. Don’t even look at it twice.

The crypto space is full of real innovation. Don’t waste your time on ghosts.