Ethereum Falls 11% Amid Bearish Market Conditions: What You Need to Know?
On Tuesday, the Index, Ethereum experienced a substantial decline, trading at $2,396.95 by 18:16 GMT. It represents the largest single-day loss since November 9, 2022, at a rate of ten.75%. The market capitalization of Ethereum has decreased to $299.58 billion, which accounts for 14.18% of the total cap of all cryptocurrencies, as a result of the significant decline in its price.
The value of Ethereum has dramatically decreased, as the market valuation reached a high of $569.58 billion. Ethereum fluctuated between $2,396.02 and $2,699.73 over the previous 24 hours.
The trade volume of $14.89 billion, which accounts for 21.02% of all cryptocurrency trade volumes, has decreased by 3.68% over the past week. The cryptocurrency was traded between $2,396.0151 and $2,818.0505. In addition, Ethereum has experienced a 50.72% decline since its all-time peak of $4,864.06 on November 10, 2021.
Bitcoin was trading at $58,331.70 in the broader cryptocurrency market. For a single day, it has experienced a 7.66% decline. The market capitalization of Bitcoin is $1,191.54 billion, which accounts for 56.41% of the total cap of cryptocurrencies.
The price of Tether decreased by 0.33% to reach $1.0001. Its market capitalization is $118.08 billion, which accounts for 5.09% of the total market capitalization of cryptocurrencies. In general, the cryptocurrency market has experienced a substantial decline, with the majority of the market experiencing value loss.
