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Ethereum has had a tumultuous 24 hours, as the price dropped dramatically overnight, seeing one of the biggest percentage drops in Ethereum this year.
Ethereum has followed in Bitcoins steps, seeing massive drops in price over the weekend. Ethereum saw a combined drop of roughly 25% on Sunday and Monday, taking the price of Ethereum from $270 down to $203.
ETH/USD Chart provided by Tradingview
While Ethereum saw major declines in price, most of the market saw the same fate, as the total market capitalization declined at the exact same time as the Ethereum price drop.
Crypto total market cap Chart provided by Tradingview
While Ethereum saw major red over the last 24 hours, the top 10 all saw the same thing.
Ethereum was one of the worst performers in the top 10, only beaten by Bitcoin Cash, which dropped by 16% and Bitcoin SV which saw a massive 19.4% decline in price.
XRP managed to only drop 4.7% while most of the top ten were testing double figure declines in price on Monday.
There could still be more blood to come as Bitcoin appears to remain bearish, and ultimately affecting the entire market sell-off.
One of the insane things is that the average daily move since Jan1st 2017 is up 0.54%, even after this bear market.
— Su Zhu 🦁 (@zhusu) July 15, 2019