The post ETH is Down 2%, Trades at $2,653 appeared on BitcoinEthereumNews.com.

The current price of Ethereum (ETH) today is $2,631.1 as of 10 AM. Ether prices hit a daily high of $2,710.7 today after sliding -2.86% on October 22. Why is Ethereum Price Down Today? Ethereum price dropped 2.0% but currently trades at $2,653 on October 22, 2024. On Monday, Bitcoin’s sudden crash took Ether and the rest of the crypto markets down with it. Although the ETH price recovered in the early Asian session, investors must remain cautious of a potential trend continuation in the New York trading session. Ethereum Price Performance Chart *Ethereum price updated as of 10 AM. Ethereum has been a popular altcoin due to its smart contract technology. The first-mover advantage it has since its launch in 2015 is not enough, as ETH continues to disappoint investors due to its lackluster performance. However, the Ethereum blockchain remains at the forefront of smart contract technology due to the major network upgrades that it receives regularly. Ethereum’s Price History The year-to-date (YTD) performance of ETH has dropped to 13% after nearing 20% just a few days ago. Regardless of Ethereum’s lackluster performance and volatility, the market capitalization of ETH stands at $316.6 billion, making it the second-largest cryptocurrency. Ethereum: The Second-Largest Cryptocurrency Clubbing Ethereum’s $316.6 billion market cap with Bitcoin’s (BTC) $1.15 trillion constitutes nearly 70% of the total crypto market capitalization. This duo captured an even bigger share as ETH’s market cap at an all-time high (ATH) was $571 billion, as seen on November 9, 2021. Although Ethereum’s market cap has been slashed in half since its ATH, it overshadows other popular cryptos like Solana (SOL) and Ripple (XRP), whose market capitalization hovers around $78 billion and $30 billion. Ethereum’s Trading Volume Despite the recent drop in Ethereum’s popularity, the 24-hour trading volume of Ethereum is $16.7…

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Filed under: News - @ October 22, 2024 11:27 am