Ethereum Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum's (CRYPTO: ETH) price has fallen 4.82% to $1,734.15 over the past 24 hours, continuing its negative trend over the past week with a 6.0% loss. The trading volume for the coin has climbed 110.0% over the past week, while the overall circulating supply has decreased 0.03% to 120.14 million. The current market cap ranking for ETH is #2 at $208.40 billion.
August 17, 2023 | 7:00 pm
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Ethereum's price has fallen 4.82% in 24 hours, continuing a negative trend over the past week. Trading volume has increased significantly, while circulating supply has slightly decreased.
The price of Ethereum has been on a downward trend, which is a negative signal for investors. The increase in trading volume suggests heightened activity, which can often accompany price changes. The slight decrease in circulating supply could be a factor in the price drop, as lower supply can lead to higher prices if demand remains constant. However, in this case, it seems the demand has not kept up with the supply, leading to a price drop.
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