Ethereum (ETH) Market Cap Falls More Than $124 Billion In Six Weeks

Ethereum (ETH) Market Cap Falls More Than $124 Billion In Six Weeks


Ethereum, the second-largest cryptocurrency by market capitalization, is currently in freefall. Over $124 billion in capital vanished from the Ethereum (ETH) decentralized finance (DeFi) in six weeks.

Seven months ago, ETH reached its highest value ever at $4,891.70 on November 16, 2021. But it is now trading at around $1,100, which is less than 75.2% of its all-time high value.

Related Reading | Controlling The Chaos: FTX Exchange Bails Out BlockFi With $250M

The start of 2022 was unstable for the cryptocurrency market, particularly ETH, but in previous weeks, things have become much more complicated. However, the larger crypto market continues to fall due to macroeconomic uncertainty fueled by an unstable stock market, interest rate hikes, and the fear of crisis.

Trending: Bo Polny CONFIRMED: The First of 3 Dominoes Has Fallen, Here’s What Comes Next…

The Ethereum DeFi Market Is

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend