Ethereum (ETH) has just lost nearly 4% of its value, testing (and briefly dipping below) the $250 mark. Although the situation is changing rapidly, Ethereum currently sits at just north of $252, after falling from a 2020 peak of over $287 just two days ago.
In total, more than $3 billion has been wiped off Ethereum's market capitalization since February 15, bringing its market cap down to around $27.7 billion. Nonetheless, Ethereum has gained slightly against Bitcoin in the last day, and now sits at a value of 0.0264 BTC/ETH—up a modest 0.25%.
Despite seeing its value shrink in recent days, the daily trade volume of Ethereum still appears to be on the uptick, and currently sits at around $27 billion—up from $23.8 billion during its rally late last week.
Although Ethereum is currently trending downwards, it isn't all bad news.
Scaling back to longer-term timescales, Ethereum is still doing relatively well, and can be considered one of the best performers in recent months. As it stands, Ethereum is still up more than ten percent in the last week, and more than 47.5% in the last month—significantly higher than the average gain of 14.1% seen across the market during this time.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.