Ethereum Price Tumbles Down, What’s The Reason Behind The Decline?

Ethereum Price Tumbles Down, What’s The Reason Behind The Decline?


The crypto market has recently witnessed different shades of events, impacting several assets negatively, such as Ethereum. The collapse of the FTX crypto exchange is still causing many downtrends in the market. The overall price trend in the market has maintained a southward move beyond expectations.

Besides the FTX saga, other activities have been erupting in the crypto space. Recently, Ethereum was hit with devastating selling pressure. The sudden move cut deep into the value of the second-largest crypto asset as it drops by over 8%.

At the time of writing, ETH is trading around $1,126, indicating a drop over the past 24 hours. Its market cap now sits at $137.49 billion. The token recorded a 24-hour trading volume of over $11.9 billion.

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