Ethereum (ETH) Price Falls to Nine-Month Low, Drops Below $300

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, experienced a significant decline on Monday, falling to a nine-month low of below $300.

Earlier in the day, the coin was trading around $320, but a sell-off began around 15:00 UTC, driving the price down to as low as $285, a level not seen since November 2017. At its lowest, ETH recorded a 17% drop on the day, marking its most substantial decline since March and making it the poorest performing asset among the top 10 cryptocurrencies.

As of 20:33 UTC, Ethereum was trading at approximately $289.9, reflecting a nearly 10% decrease on the day, with a market capitalization of $29.3 billion. This plunge has erased its year-on-year growth, highlighting the volatility in the cryptocurrency market.