- Ethereum dropped 10.12% in a day, hitting $2,104.07 and deepening its weekly loss to 22.99%.
- Its market cap shrank to $255.71 billion, far below its all-time high.
Ethereum took a major hit, dropping 10.12% in a single day. The price fell to $2,104.07, marking its biggest one-day loss since February 24. This sharp decline wiped out billions from ETH market cap, which now stands at $255.71 billion.
Over the past week, Ethereum losses have deepened, falling by 22.99%. Trading volume reached $31.03 billion in the last 24 hours, accounting for 20.69% of the total crypto market volume.
Ethereum Struggles to Regain Strength
Ethereum’s price has been fluctuating between $2,102.18 and $2,312.79 in the past 24 hours. However, it remains far from its all-time high of $4,864.06, set in November 2021. Currently, Ethereum is down 56.74% from that peak.
The recent sell-off reflects the ongoing volatility in the crypto market. Investors remain cautious, watching for signs of a possible rebound.
Bitcoin and Other Cryptos Also in the Red
Bitcoin also saw losses, dropping 7.60% to $79,354.0. Despite the decline, Bitcoin still dominates the market, holding a $1.58 trillion market cap, which represents 59.86% of the total cryptocurrency market.
Meanwhile, Tether (USDT) remained stable, trading at $1.0002, showing minimal price movement. Its market cap currently stands at $142.04 billion.
What’s Next for Ethereum?
Ethereum’s recent slide raises concerns about future price action. The key support level at $2,100 is now in focus. If it breaks below this, further declines could follow.
However, the market remains unpredictable. Investors are closely monitoring Ethereum’s movements, looking for a potential recovery or more downside ahead.
