Ethereum Faces Significant Drop in Value
Market Performance
Ethereum’s value plummeted to $3,151.48 by 14:36 (18:36 GMT) on Friday, marking a substantial 10.09% decrease, the most significant one-day loss since November 9, 2022.
Market Cap and Trading Range
This decline pushed Ethereum’s market cap down to $399.60B, representing 15.99% of the total cryptocurrency market cap. Previously, Ethereum’s market cap reached a high of $569.58B. The cryptocurrency traded within a range of $3,150.92 to $3,551.22 over the past twenty-four hours.
Weekly Performance
Over the previous seven days, Ethereum’s value remained relatively stagnant, with only a minimal 0.16% fluctuation. The trading volume for Ethereum in the last twenty-four hours was $14.47B, accounting for 16.09% of the total cryptocurrency volume. Throughout the past week, Ethereum’s price fluctuated between $3,150.9238 and $3,727.8689.
All-Time High Comparison
Despite its current price, Ethereum remains 35.21% below its all-time high of $4,864.06, reached on November 10, 2021.
Elsewhere in the Crypto Market
Bitcoin saw a 5.10% decrease, trading at $65,942.3 on the Investing.com Index. Tether USDt also experienced a slight drop, trading at $0.9998.
Bitcoin’s market cap stands at $1,338.23B, representing 53.53% of the total cryptocurrency market cap, while Tether USDt’s market cap is $107.24B, accounting for 4.29% of the total market value.
