On January 5, 2021, the cryptocurrency ethereum (ETH) recorded its largest drop since November 26, 2021. Indeed, its price was only around $ 3,428.21. This figure corresponds to a 10.16% drop in its value from a few weeks earlier.
Ethereum (ETH) has lost value
10%! ETH lost 10% of its value within a few hours. This situation has had considerable consequences, especially in terms of its market capitalization. This fell from its value a few hours earlier. Indeed, on January 5, ETH’s market cap was $ 415.75 billion while its highest value was $ 569.58 billion.
It must be said that the last 7 days have not been very pleasant for the ethereum cryptocurrency (ETH). Its price has dropped. Currently, as of this writing, ETH’s trading volume is $ 15.83 billion, which is 15.65% of the total volume of all cryptocurrencies. Note that over the past 7 days, ETH has traded between $ 3,428.2070 and $ 3,889.0718.
Investors are worried that the second largest cryptocurrency in the world is taking a loss. However, analysts want to be positive. They believe that this is only a passing downtrend and that electronic money will very quickly find its way back to growth.
Bitcoin (BTC) also falls
Ethereum (ETH) is not the only cryptocurrency to have found itself in a bearish zone in recent weeks. Other digital assets have also seen their value drop in the last few hours. This is the case of bitcoin (BTC) which recorded a 7.82% drop in one day. On the Investing.com platform, BTC was trading at $ 460.84.
As a result of this decline, the market capitalization of bitcoin (BTC) has declined. It was $ 815.90 billion. However, BTC remains the cryptocurrency with the highest market capitalization in the market. It represents 39.73% of the total market capitalization of cryptocurrencies.
In the process, note that Binance Coin reported that it had a market capitalization of $ 78.74 billion, or 3.83% of the total market value of cryptocurrencies.
Ethereum (ETH) and bitcoin (BTC) as well as other cryptocurrencies find themselves in a downtrend which results in a significant decrease in their market capitalization. However, analysts are positive. They believe that this situation will not last for a long time.
Source: Investing
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TCT writing
Behind the generic signature “TCT editorial staff” are young journalists and authors with specific profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.
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