Ethereum Plunges 10.29% Amid Market Sell-Off

Ethereum saw a sharp decline on Monday, dropping 10.29% to $2,220.06 by 13:27 (18:27 GMT) on the Investing.com Index. This marks its steepest one-day percentage loss since March 3, pushing its market cap down to $271.46 billion, representing 9.24% of the total cryptocurrency market. At its peak, Ethereum’s market cap stood at $569.58 billion.

Over the past 24 hours, Ethereum fluctuated between $2,220.06 and $2,511.58, with a trading volume of $28.90 billion, accounting for 17.48% of the total crypto trading volume. The past week has been rough for Ethereum, shedding 15.67% and trading within a range of $2,078.68 to $2,546.39. The cryptocurrency remains down 54.36% from its all-time high of $4,864.06, recorded on November 10, 2021.

Bitcoin also faced losses, falling 4.93% to $88,273.50, with a market cap of $1.77 trillion, representing 60.24% of the total crypto market. Meanwhile, XRP dropped 9.60% to $2.5280, bringing its market cap to $149.27 billion, or 5.08% of the total market.

The broader cryptocurrency market is experiencing heightened volatility as investors react to macroeconomic uncertainties and regulatory developments. With Ethereum and Bitcoin leading the downturn, market sentiment remains cautious. Traders are closely monitoring support levels for potential rebounds or further declines in the coming sessions.