In the past month, Ethereum (ETH) price has dropped over 30% while it dropping 8% in the past 24 hours alone. The recent decline in ETH price coincides with the drastic downtrend the crypto market is witnessing in the past two days.
While the crypto market spiked tremendously over Trump’s crypto reserve news on Sunday, the price of ETH pumped over 25% alongside BTC, XRP, ADA and SOL. However, the pump did not last for long with ETH dropping back to pre-announcement price now.
As per Coinmarketcap data, ETH is currently trading at $2,115 with a market cap of $255.12 billion. Ethereum currently has 9.1% dominance in the total crypto market cap.
Besides the increased sell-off in crypto market, ETH ETF is also been sold by traditional investors with it seeing over $335 million of outflows last week.
Although ETH price is dropping and being one of the worst performers in the past few years, several analysts are expecting it to attain outstanding gains with popular youtuber Crypto Rover predicting it to break to $18,000 price mark.
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