As of right now, ETH trades at $1897 down 6.77% over the last 24 hours
The price of Ethereum (ETH) has fallen to its lowest level in over 2 years as the cryptocurrency continues to plummet in value.
According to CoinMarketCap, ETH is currently trading at $1,897, down 6.77% over the last 24 hours. These daily losses add up to a 28% decrease in the month and a 50% decline over the last year.
Perhaps even more worrisome, the market’s most valuable altcoin has lost over 55% of its value since its peak of $4,112 on December 4th. This erases all profits seen during the market rally after the Trump election.
The last time Ethereum traded around the $1,800 level was on October 23, 2023. At that point, the altcoin was riding a bullish trend that eventually propelled its price to over $4,000.
This time, however, the second-largest cryptocurrency has reached this zone during a downward trend. The last similar occurrence was in May 2022, which eventually saw Ethereum drop as low as $879 before rebounding.
At this time of writing, nearly $200 million was liquidated from the Ethereum market, signaling yet another alert that the currency may indeed have entered a bearish trend.
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