Ethereum Decreases More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum (CRYPTO: ETH) has seen a 5.46% decrease in price over the last 24 hours, falling to $2,220.49, despite a 1.0% gain over the past week. The trading volume has decreased by 11.0%, while the circulating supply has slightly increased by 0.04% to 120.22 million. Ethereum's market cap remains the second-largest at $267.61 billion.
December 11, 2023 | 3:00 pm
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NEGATIVE IMPACT
Ethereum's price has dropped by 5.46% in the last 24 hours, indicating a short-term negative trend despite a slight increase over the past week.
The significant price drop of 5.46% in Ethereum is a strong indicator of negative sentiment in the short term. The decrease in trading volume suggests less market activity, which could further impact price. However, the overall market cap ranking and slight increase in circulating supply provide some positive signals, mitigating the impact to a degree.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100