Signs of a crypto market recovery in the past week is quickly fading away after the world’s second most valued cryptocurrency slipped below $300 today. At press time Ethereum was valued at $260, a massive 17% decline according to Coin360 stats.
Within the last three hours up to press time, Ether has struggled to find its way past the $300 mark which it defended very well on the previous trading day. As also noticed in the charts, ETH’s decline is the second worst of the day among the top ten currencies in the crypto market, only 1.46% behind the ADA coin which slipped by a massive 18.83%. Market cap for the Ethereum at press time was $26.8 billion.
While recent Bloomberg reports say that “ICOs cashing out of the network” is responsible for the massive decline, one would have to go as far back as early November last year to find ETH below 300.
Bitcoin Defends $6000
The top cryptocurrency is now back to where it was in the past month as it continues to record drops following the announcement of an ETF delay late last week.
Trading data within the last two hours show that BTC prices have not gone beyond $5971. At press time the bitcoin price was $6006 while the coin recorded a 54.1 dominance with a market cap of $103.8 billion.
In summary, the total cryptocurrencies market cap at press time is 192 billion.
- Bitcoin Falls to $65K as Mt. Gox Transfers $2.8 Billion BTC to External Wallet
- News of Marathon Digital’s $138 Million Fine for Breach of Non-Disclosure Agreement Triggers a Bearish 2.5% of Its MARA Stock
- Are $530M Bitcoin ETF Inflows a Blessing or Caution?
- Metaplanet Teams with Hoseki for Real-Time Bitcoin Holdings Verification
- 10 Best Meme Coins To Invest in 2024
- Building Secure Blockchain Systems: An Exclusive Interview with ARPA and Bella Protocol CEO Felix Xu
- Building The “De-Facto Crypto Trading Terminal”: An Exclusive Interview with Aurox CEO Giorgi Khazaradze
- Building a New Global Financial System: An Exclusive Interview With Tyler Wallace, Analytics Head at TrustToken
- “Solana is the Promised Land for Blockchain” — An Exclusive Interview with Solend Founder Rooter
- El Salvador: Where The Bitcoin Revolution Begins With A Legal Tender