Share this article
Ethereum's Woes Continue as Price Sinks to 9-Month Low
Ether (ETH) prices fell to a nine-month low on 5th December, extending losses suffered in recent weeks.
Updated Sep 11, 2021, 12:44 p.m. Published Dec 5, 2016, 10:00 p.m.
Ether prices fell to a nine-month low on 5th December, building on the losses suffered in recent weeks.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ether, the digital asset used to power platform ethereum, reached $7, the lowest since 1st March, according to CoinMarketCap. The digital currency hit this price at 18:44 UTC, and then lingered at this price until rising to $7.01 at 19:01 UTC, CoinMarketCap data shows.
Ether prices quickly mounted a modest recovery, rising to $7.10 by 19:10 UTC.
Yet, ether experienced these price fluctuations amid modest volume, as 24-hour trading volume fluctuated between $13m and $14m when the digital currency lingered at $7.
The digital currency’s prices have been encountering headwinds as the ethereum platform has run into continued technical difficulties. Ethereum's developers have conducted three hard forks in four months, and the network unintentionally split late last month when two of the platform’s clients integrated different logic.
Sinking boat image via Shutterstock; Coinmarketcap
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
알아야 할 것:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
