Ethereum In Free Fall As Floor Beneath It Drops
Ethereum has just entered free fall. The second most popular cryptocurrency plunged nearly 20 percent at the time of writing to trade at $5.88 to the ETH, compared with its position 24 hours earlier on the Poloniex exchange. Ethereum has been constantly falling and as the chart below shows, the cryptocurrency has fallen from its previous level of $12 at the end of October 2016 to nearly half of that as of Dec. 6, 2016. Why is Ethereum floundering? Ethereum has been plagued by disaster ever since it came into being. The cryptocurrency has undergone at least four hardforks, which have left....
Related News
Like most altcoins, Ethereum (ETH) has seen its price succumb to the negative market sentiment in recent weeks. This unfavorable market condition has consistently caused the second-largest cryptocurrency to trade beneath the $1,700 level. Could Ethereum Price Fall To $1,200? In an X post dated Wednesday, September 6, crypto analyst Ali Martinez offered insight on the price of Ethereum. The analyst shared that the value of ETH faces a potential significant correction to $1,200 if it stays below $1,680. Source: IntoTheBlock/ali_charts Using data from the blockchain analytics platform....
Data on the most well recognized nonfungible token (NFT) projects show that key metrics have fallen with floor prices and market capitalization over the past month. “Blue-chip” nonfungible token (NFT) collections have seen their floor prices and market capitalization slide over the past 30 days, with some of the most well-recognized projects halving in value for these key metrics.Data collected on key Ethereum (ETH) NFT projects by DappRadar show the floor prices of established collections such as CryptoPunks, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Moonbirds, are at....
Ethereum fell below its recent floor of $1,500 earlier in today’s session, as bearish pressure intensified in crypto markets. Uncertainty in the market has heightened today, as traders prepare for yet another rate hike from the Fed. Bitcoin was also lower for a second consecutive day, as prices were on the cusp of falling under the $21,000 level. Bitcoin Bitcoin (BTC) extended its stint in the red during today’s session, as the token was on the cusp of falling below $21,000. Following a high of $22,213.48 to start the week, BTC/USD slipped to an intraday low of $21,012.48 in....
Ethereum’s price action throughout the past few days and weeks has been rather lackluster The cryptocurrency has been underperforming Bitcoin and even some of its altcoin counterparts This trend is shifting slightly today, as the entire crypto market is starting to move higher One analyst is noting that ETH is bearish from a purely technical standpoint, as it is currently trading below multiple key technical levels Yesterday, it closed beneath both its 50 and 100-day […]
An ongoing debt crisis at lending platform BendDAO is also increasing the risks of the NFT bubble going bust. OpenSea, the world's largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow.OpenSea volume plummets to yearly lowsNotably, the marketplace processed nearly $5 million worth of NFT transactions on Aug. 28 — approximately 99% lower than its record high of $405.75 million on May 1, according to DappRadar.OpenSea users, volume, and transactions statistics. Source: DappRadarThe massive declines in....