Ethereum, the cryptocrypto market’s second-most capitalized cryptocurrency, today dropped by nearly 10 percent, falling below the $200 per coin mark for the first time in over a month.

Ethereum
ETH
-13.28%$2,303.15
24H7D1M1YMAX
Created with Highcharts 10.3.3Jun 1712:00PMJun 1812:00PMJun 1912:00PMJun 2012:00PMJun 2112:00PMJun 2212:00PMJun 2312:00PM$2100$2200$2300$2400$2500$2600$2700
Price data by
ETH price

At the moment, ETH is trading for around $195 per token. It marks the first significant drop in Ethereum’s price since a bull run earlier this year saw its price rise from as low as $120 per coin to nearly $290.

The price of Bitcoin has plummeted (Image: Shutterstock)

Bitcoin down 10% as brutal weekend sinks the market

Crypto markets plummeted over the weekend, with the price of Bitcoin dropping by almost 10% in the last 24 hours to hit a low of $7,774. One Bitcoin is now worth $7,890.  The price movement came at the end of a week of gains for the cryptocurrency, which were wiped out in a stroke—along with all of Bitcoin’s gains for February, sending its market cap down to $143.6 billion. In all, Bitcoin’s price has dropped over 24% from its February high of $10,393. But more worrying is the lack of trading vo...

NewsCoins
2 min read
Stephen Graves

It’s been a rough day for traders and investors globally, whether in crypto or traditional markets, such as stocks, bonds, and oil. The price of oil, for example, has dropped by more than 20 percent in the last day. Meanwhile, panic surrounding the coronavirus pandemic is growing at a rapid rate, contributing to the economic turmoil.

So far, Bitcoin has lost virtually all its 2020 gains. The asset is currently trading at $7,700—nearly $3,000 less than its high for the year.

Ethereum, by contrast, has lost nearly a third of its price since reaching its tallest peak in 2020 of about $285 on February 15. Ethereum had managed to stay above the $200 line prior to today’s nosedive despite occasional slumps over the past few weeks.

According to financial analysts at trading platform eToro, more volatility can be expected. The platform is advising its users to “monitor positions frequently.”

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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