Ethereum lost 7.9 percent in 24 hours and traded at $2,236.81 according to CoinGecko shortly before 1 a.m. German time on Friday. Bitcoin gave up 5.7 percent over the same period. The trigger was a sell-off in chip and AI stocks on Wall Street, which forced leveraged long positions in the crypto market to close one after another. Ether has thus dropped to its lowest daily level since mid-August.
What is documented: the price slide, the slump on the Nasdaq, the liquidations and the outflows from US spot Ether ETFs, each with a source below. Our own assessment follows further down in a separate paragraph and is marked as such.
Ethereum price falls to $2,237: lowest daily level since August
According to CoinGecko data, the 24-hour high was $2,433.96 and the low $2,221.92. The gap between the two is a little over $210, almost nine percent of swing in a single trading day. Over seven days Ether is down only 1.9 percent, because the price had initially risen sharply on Wednesday.
In CoinGecko's daily data, Ether last traded lower than now on August 19, at around $1,916. The 30-day high was about $2,697. Measured from that high...
English (US)