Ethereum Plummets to $2,220 Amid Market Downturn
Ethereum's Sharp Decline
Ethereum's price tumbled to $2,220.06, a 10.29% drop, its steepest one-day loss since March 3. This downturn reduced its market cap to $271.46B, representing 9.24% of the total cryptocurrency market. Over the past 24 hours, Ethereum fluctuated between $2,220.06 and $2,511.58.
Weekly and YTD Performance
Over the past seven days, Ethereum has lost 15.67% of its value. Despite this, its 24-hour trading volume remained robust at $28.90B, accounting for 17.48% of the total cryptocurrency volume. Ethereum is still 54.36% below its all-time high of $4,864.06, reached on November 10, 2021.
Broader Market Trends
Bitcoin fell 4.93% to $88,273.5, while XRP dropped 9.60% to $2.5280. Bitcoin's market cap dominated at $1,769.37B, or 60.24% of the total cryptocurrency market, while XRP's market cap stood at $149.27B.
The cryptocurrency market continues to experience volatility, with Ethereum and other major coins facing significant price fluctuations.
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