Tuesday, November 29, 2022
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Ethereum drops below $1000

ETH jumps back to 3 digits – The bear market got the better of the bullish bull. Thus, for several months, the cryptocurrency market has continued to record declines. A new wave has just hit it with full force, causing ETH toEthereum below the $1000 mark.

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Ethereum drops below $1000

Ethereum is the second largest cryptocurrency by market capitalization. However, this does not prevent it from being a victim, like the others, of significant variations recorded by the cryptocurrency market.

Indeed, since its ATH (all time high) at $4,878 recorded last November, the value of ETH against the dollar has continued to fall. In the middle of May, the symbolic bar of $2,000 was then crossed downwards.

This Saturday, June 18, a new symbolic level has just been crossed downwards: that of $1,000. Thus, on the Binance exchange platform, ETH reached $988. Shortly after, the price rose back above $1,000. There is no certainty that this will hold in the hours to come.

Ethereum drops below $1000 on Binance Source: Binance.

In practice, ETH had not traded at such levels since January 2021, when it began its meteoric rise until reaching its historic ATH.

On his side, the queen of cryptocurrencies, Bitcoin, meanwhile, sold for $20,000. Two important symbolic levels that are sure to shake the rest of the market.

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