Ethereum is down over 25% in the new week, the sharpest fall in a continuing decline since the turn of the month.
Ethereum price fell to a low of $175.56 on GDAX, an exchange operated by US-based Coinbase for professional traders, in the early hours of Tuesday (UTC). Ethereum’s ether token is now trading at its lowest levels in more than 30 days.
Data from CoinMarketCap shows a massive sell-off in a number of exchanges in South Korea, China and USD-based trading platforms.
The recent decline comes amid mainstream headlines of a crypto bubble period. Tech billionaire Mark Cuban, an early bitcoiner who has used “Coinbase for years”, said “I think it’s [cryptocurrencies] in a bubble . I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble.”
At the time of publishing, Ethereum’s ether token is trading at $185 in an ongoing period of correction.
Altogether, prices are down nearly 45% since hitting above $400 almost a month ago to the day, an all-time high for Ether. Still, Ethereum is up over 2300% since the turn of the year.
For a real-time Ethereum price chart, click here:
Featured image from Shutterstock.
Last modified: May 21, 2020 9:42 AM UTC