Ethereum Plunges 10% in Largest Daily Loss Since March
1min read Ethereum, the second-largest cryptocurrency by market capitalization, experienced a significant drop of 10.29% on Monday, marking its largest one-day percentage loss since March 3. The decline pushed Ethereum's market cap down to $271.46 billion, representing 9.24% of the total cryptocurrency market cap. At its peak, Ethereum's market cap reached $569.58 billion.
Over the past seven days, Ethereum has seen a decrease in value, with a loss of 15.67%. The volume of Ethereum traded in the twenty-four hours to time of writing was $28.90 billion, accounting for 17.48% of the total volume of all cryptocurrencies. The price of Ethereum has traded in a range of $2,078.68 to $2,546.39 in the past seven days.
At its current price, Ethereum is still down 54.36% from its all-time high of $4,864.06, which was set on November 10, 2021. The decline in Ethereum's price comes amidst a broader sell-off in the cryptocurrency market, with Bitcoin and XRP also experiencing significant losses.
Bitcoin, the largest cryptocurrency by market capitalization, was last trading at $88,273.5, down 4.93% on the day. Its market cap was last at $1,769.37 billion, representing 60.24% of the total cryptocurrency market cap. XRP, the sixth-largest cryptocurrency by market capitalization, was trading at $2.5280, a loss of 9.60%. XRP's market cap totaled $149.27 billion, accounting for 5.08% of the total cryptocurrency market value.
