Investing.com - Ethereum took a nosedive, trading at $2,898.17 by 23:12 (03:12 GMT) on the Investing.com Index on Friday, marking a significant 10.25% drop in value. This is the largest one-day percentage loss since November 9, 2022.
The downward trend caused Ethereum's market cap to plummet to $360.89B, now representing 17.62% of the total cryptocurrency market cap, a steep fall from its peak of $569.58B.
Within the previous twenty-four hours, Ethereum fluctuated between $2,896.05 and $3,108.66.
Over the past week, Ethereum has experienced a 12.95% decrease in value, with a trading volume of $20.66B, accounting for 21.95% of the total cryptocurrency volume. Its price range over the last 7 days has been $2,896.0498 to $3,522.0027.
Currently, Ethereum is down by 40.42% from its all-time high of $4,864.06 recorded on November 10, 2021.
Other Cryptocurrency Updates
Bitcoin is currently priced at $55,408.9 on the Investing.com Index, showing a 6.05% decrease for the day.
Tether USDt is trading at $1.0002 on the Investing.com Index, reflecting a 0.09% gain.
Bitcoin's market cap stands at $1,104.18B, representing 53.90% of the total cryptocurrency market cap, while Tether USDt's market cap is $112.45B, accounting for 5.49% of the total cryptocurrency market value.
Analysis:
It's essential for investors to stay informed about the latest developments in the cryptocurrency market. Ethereum's recent sharp decline, along with Bitcoin's and Tether USDt's fluctuations, highlight the volatility of digital assets. The drop in Ethereum's value and market cap may indicate a shift in market sentiment, potentially impacting investors' portfolios. Understanding these changes and trends can help individuals make informed decisions about their investments and financial strategies.