Ethereum Plunges 10.2% in Biggest One-Day Drop Since March

Ethereum saw a sharp decline on Monday, dropping 10.2% to $1,832.33 by 15:01 (19:01 GMT) on the Investing.com Index, marking its steepest one-day loss since March 3. This downturn slashed Ethereum’s market cap to $223.14 billion, accounting for 11.71% of the total cryptocurrency market. The altcoin has struggled over the past week, falling 15.7% and trading between $1,821.95 and $2,319.82.

Ethereum’s 24-hour trading volume hit $29.55 billion, representing 12.41% of total crypto trading activity. Despite recent volatility, the asset remains far from its all-time high of $4,864.06, set on November 10, 2021, still down 62.33% from that peak.

Bitcoin also suffered losses, dipping 5.76% to $77,849.90. The leading cryptocurrency’s market cap stood at $1.54 trillion, dominating 80.87% of the market. Meanwhile, Tether USDt traded at $1.0000, slipping 0.06%, with a market cap of $142.91 billion, or 7.50% of the crypto market.

Ethereum’s steep drop follows a week of bearish momentum across the crypto market. Investors remain cautious amid macroeconomic uncertainties and shifting market sentiment. As volatility persists, traders are closely monitoring support levels and potential recovery signals in the coming days.