Ethereum Drops 10% Amid Bearish Reversal
Ethereum saw a significant decline of 10.49% on Friday, trading at $2,484.82 at 04:10 (01:10 GMT), according to Investing.com Index. This marks the largest daily drop for the cryptocurrency since April 6.
The sharp fall also caused Ethereum’s market capitalization to shrink to $305.75 billion, now accounting for 9.44% of the total cryptocurrency market cap. At its peak, Ethereum’s market cap had reached $569.58 billion.
In the past 24 hours, Ethereum traded within a range of $2,484.82 to $2,639.50.
Over the last 7 days, Ethereum had shown a price increase of about 4.35% before the drop. The 24-hour trading volume at the time of reporting was $30.80 billion, which makes up 21.40% of the total crypto market trading volume. Over the past week, the price fluctuated between $2,457.03 and $2,877.91.
Currently, Ethereum is significantly down from its recent high, although the exact peak was not specified in the data.
Meanwhile, Other Cryptocurrencies:
- Bitcoin (BTC) last traded at $102,739.60, showing a daily decline of 5.24%, according to Investing.com.
- Tether (USDT) was trading at $1.0005, with a slight increase of 0.06%.
Market Capitalizations:
- Bitcoin: $2.066 trillion (63.77% of total market cap)
- Tether USDt: $155.24 billion (4.79% of total crypto market cap)
