Ethereum Declines 10% Amid Bearish Trading

Ethereum recently traded at $2,898.17, experiencing a significant decline of 10.25% in a single day, marking its largest one-day percentage loss since November 9, 2022. This downward movement reduced Ethereum’s market capitalization to $360.89 billion, which now accounts for 17.62% of the total cryptocurrency market cap. At its peak, Ethereum’s market cap reached $569.58 billion.

In the past 24 hours, Ethereum fluctuated between $2,896.05 and $3,108.66. Over the last week, the cryptocurrency has witnessed a decline of 12.95%. The trading volume for Ethereum in the most recent 24-hour period was $20.66 billion, representing 21.95% of the overall trading volume of all cryptocurrencies. In the past week, Ethereum’s price ranged from $2,896.0498 to $3,522.0027.

Currently, Ethereum remains 40.42% lower than its all-time high of $4,864.06, achieved on November 10, 2021.

In other cryptocurrency trading news, Bitcoin was recently priced at $55,408.90, reflecting a decrease of 6.05% for the day. Tether USDt was trading at $1.0002, showing a slight increase of 0.09%. Bitcoin’s market capitalization stood at $1,104.18 billion, accounting for 53.90% of the total cryptocurrency market cap, while Tether USDt’s market cap reached $112.45 billion, representing 5.49% of the total cryptocurrency market value.