Ethereum Plunges 3.15%, Drops Below $3,600 Amidst Extended Market Losses

Over the past 24 hours, Ethereum's price has declined 3.15% to $3,509.12, continuing a 2.0% loss over the past week. Trading volume has decreased by 17.0%, while the circulating supply has increased by 0.41% to 120.07 million, solidifying ETH's rank at #2 with a market cap of $422.34 billion.

Ethereum's Price Falls 3.15% to $3,509.12

Over the past 24 hours, Ethereum (CRYPTO: ETH) has witnessed a decline in its price, dropping 3.15% to $3,509.12 at the time of writing. This decrease extends the negative trend observed over the past week, where Ethereum experienced a 2.0% loss, moving from $3,565.12 to its current level.

Volatility analysis using Bollinger Bands shows that the gray bands measuring volatility are wider in the weekly chart compared to the daily chart. This indicates that Ethereum's price has been more volatile over the past week.

In terms of trading volume, Ethereum has experienced a decline of 17.0% over the past week. On the other hand, the circulating supply has increased by 0.41%, resulting in a current circulating supply of 120.07 million.

Market capitalization rankings for Ethereum remain unchanged, with the cryptocurrency holding its position as the second-largest by market cap, currently valued at $422.34 billion as per data from CoinGecko API.

It is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate significantly in short periods. Investors should always conduct thorough research and consider market conditions before making investment decisions. This article was generated by Benzinga's automated content engine and reviewed by an editor.