Ethereum Price Plummets 10% to $2,104 Amid Market Downturn
Ethereum Price Plummets 10% to $2,104 Amid Market Downturn
Ethereum's price tumbled 10.12% to $2,104.07 on Friday, marking its steepest one-day percentage loss since February 24. This downward move pushed its market cap down to $255.71B, representing 9.66% of the total cryptocurrency market cap. Ethereum's price had fluctuated between $2,102.18 and $2,312.79 in the previous 24 hours.
Over the past seven days, Ethereum has experienced a 22.99% decline in value. The 24-hour trading volume for Ethereum reached $31.03B, accounting for 20.69% of the total cryptocurrency trading volume. Despite its current price, Ethereum remains 56.74% below its all-time high of $4,864.06, which was recorded on November 10, 2021.
Broader Cryptocurrency Market Trends
Bitcoin, the leading cryptocurrency, also faced a significant drop, falling 7.60% to $79,354.0 on the Investing.com Index. Meanwhile, Tether (USDt) saw a slight gain of 0.01%, trading at $1.0002. Bitcoin's market cap stood at $1,584.38B, dominating 59.86% of the total cryptocurrency market cap, while Tether's market cap was $142.04B, representing 5.37% of the total market value.
The recent downturn highlights the volatility and interconnectedness of the cryptocurrency market, with Ethereum and Bitcoin leading the declines.
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