Ethereum Plummets 10% in Market Rout

Ethereum was trading at $2,614.33 as of 20:39 (00:39 GMT) on Monday, reflecting a decline of 10.30% for the day. This marks the largest single-day percentage loss since November 9, 2022.

This downward movement reduced Ethereum’s market capitalization to $323.47 billion, representing 15.79% of the overall cryptocurrency market cap. At its peak, Ethereum’s market cap reached $569.58 billion.

In the previous twenty-four hours, Ethereum traded between $2,614.33 and $2,696.91. Over the past week, the value of Ethereum has decreased by 18.31%. The trading volume for Ethereum during the last 24 hours was $21.34 billion, accounting for 27.14% of the total trading volume of all cryptocurrencies. In the past week, its trading range was between $2,614.33 and $3,366.02.

Currently, Ethereum is down 46.25% from its all-time high of $4,864.06, which was reached on November 10, 2021.

In other cryptocurrency trading news, Bitcoin was last priced at $56,785.10, showing a decrease of 6.51% for the day. Tether USDt was trading at $0.9995, reflecting no significant change.

Bitcoin’s market capitalization was approximately $1,140.86 billion, making up 55.69% of the total cryptocurrency market. Meanwhile, Tether USDt’s market cap stood at $114.48 billion, or 5.59% of the total cryptocurrency market value.