Ethereum Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum's price has dropped 5.26% in the past 24 hours to $3,145.99, despite a 1.0% uptrend over the past week. Trading volume has decreased by 25.0%, and the circulating supply has fallen by 0.24%. Ethereum's market cap is currently $378.31 billion, ranking it #2.
August 01, 2024 | 3:00 pm
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NEGATIVE IMPACT
Ethereum's price has dropped 5.26% in the past 24 hours to $3,145.99, despite a 1.0% uptrend over the past week. Trading volume has decreased by 25.0%, and the circulating supply has fallen by 0.24%. Ethereum's market cap is currently $378.31 billion, ranking it #2.
The significant drop in Ethereum's price over the past 24 hours, coupled with a decrease in trading volume and circulating supply, suggests a short-term negative impact on its price. The market cap and ranking provide context but do not mitigate the immediate downward pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100