What is the Ellipse tool good for and what is its keyboard shortcut?

The Ellipse tool is used for drawing ellipses and circles onto the Artboard. The keyboard shortcut for using the Ellipse tool is E.

In order to draw a circle, hold the Shift key pressed while you draw the shape.

Each Ellipse shape can have different

• Size,
• Opacity,
• Fill, 
• Border,
• Shadow and
• Background/Object Blur.

The shapes are the basic Design building elements.