Ethereum Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum's price has decreased by 3.42% in the last 24 hours, continuing a week-long decline of 5%. Despite the price drop, trading volume has increased by 33% over the past week, while the circulating supply slightly decreased. Ethereum's market cap is ranked #2 at $300.77 billion.
October 01, 2024 | 7:00 pm
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NEGATIVE IMPACT
Ethereum's price has dropped by 3.42% in the last 24 hours, continuing a week-long decline of 5%. Despite the price drop, trading volume has increased by 33% over the past week, indicating heightened trading activity.
The 3.42% price drop in the last 24 hours, along with a 5% decline over the past week, suggests a bearish trend for Ethereum. The increase in trading volume by 33% indicates increased market activity, possibly due to traders reacting to the price drop. The decrease in circulating supply is minimal and unlikely to have a significant impact. Overall, the short-term outlook for Ethereum is negative due to the continued price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100