Ethereum Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum (CRYPTO: ETH) has seen a 4.38% price drop over the past 24 hours, continuing a weekly decline of 5.0%. The trading volume has decreased by 49.0%, while the circulating supply increased by 0.36%, bringing it to 120.18 million. Ethereum's market cap remains at #2, valued at $284.70 billion.
January 22, 2024 | 3:02 pm
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NEGATIVE IMPACT
Ethereum's price has decreased by 4.38% in the last 24 hours, with a 5% decrease over the past week. The trading volume has significantly dropped, and the circulating supply has slightly increased.
The price of Ethereum has experienced a notable decline both over the past 24 hours and the past week, which is likely to negatively impact investor sentiment in the short term. The significant drop in trading volume suggests a decrease in market activity, which could further contribute to downward pressure on the price. The increase in circulating supply may also dilute the value of existing tokens. Given these factors, the short term impact on Ethereum's price is likely negative.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100