Ethereum Dips Below 299.36 Level, Down 6.7%

Ethereum Experiences Significant Drop in Value

Ethereum fell below the $299.36 mark on Monday, trading at $299.36 by 11:45 AM (GMT), reflecting a decline of 6.7% for the day. This marked the largest single-day percentage loss since August 10.

This downward movement brought Ethereum’s market capitalization down to $31.38 billion, which accounts for 14.71% of the total cryptocurrency market cap. At its peak, Ethereum’s market cap reached $135.58 billion.

In the previous twenty-four hours, Ethereum had fluctuated within a range of $299.15 to $321.22. Over the last week, the cryptocurrency has experienced a notable decrease, losing 23.91% of its value. The trading volume for Ethereum in the last twenty-four hours was $1.73 billion, representing 10.33% of the total volume across all cryptocurrencies. Throughout the past week, Ethereum’s trading range has been between $299.15 and $410.57.

Currently, Ethereum’s price is still down 78.97% from its all-time high of $1,423.20, which was reached on January 13.

Updates from the Broader Cryptocurrency Market

Another notable cryptocurrency was last priced at $6,310.60, reflecting a slight gain of 0.04% for the day. Additionally, another cryptocurrency was trading at $0.29501, down 1.94%.

Bitcoin’s market capitalization currently stands at $110.16 billion, making up 51.66% of the total cryptocurrency market cap, while Ripple’s market capitalization sits at $11.85 billion, accounting for 5.56% of the overall cryptocurrency market value.