Ethereum Plummets to 10.90% Daily Loss Amidst Crypto Market Downturn
Ethereum's Sharp Decline
Ethereum's price fell to $2,512.20 by Monday's close, marking a 10.90% daily drop, its largest since February 24. This downturn reduced its market cap to $311.85B, representing 10.25% of the total cryptocurrency market. Ethereum has lost 6% over the past week and is currently 48.35% below its all-time high of $4,864.06 set on November 10, 2021.
Trading Volume and Range
In the past 24 hours, Ethereum traded between $2,502.97 and $2,838.22, with a volume of $28.88B, accounting for 23.51% of all cryptocurrency trades. Over the past week, its price ranged from $2,502.9675 to $2,841.5591.
Broader Cryptocurrency Market
Bitcoin dropped 3.97% to $92,440.1, while Tether USDt edged up 0.03% to $1.0003. Bitcoin's market cap stands at $1,851.12B, or 60.82% of the total crypto market, while Tether's market cap is $142.40B, or 4.68% of the total.
This volatility highlights the ongoing instability in the cryptocurrency market, with Ethereum bearing the brunt of the downturn.
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