RATE Group | Ethereum (ETH) Is Not Dead. Current Events Could Be A Catalyst to Implement Scaling Solu…
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Ethereum (ETH) Is Not Dead. Current Events Could Be A Catalyst to Implement Scaling Solu…

14 Aug Ethereum (ETH) Is Not Dead. Current Events Could Be A Catalyst to Implement Scaling Solu…

Posted at 15:54h in Ethereum News by

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It has been a rough 24 hours for all coins in the crypto-markets. The King of Crypto, also known as Bitcoin (BTC), has dropped in value by 5% and is currently trading at $6,059. Its dominance has increased to 54.5% as the total crypto market capitalization has dropped below $200 Billion to current levels of $191 Billion.

One notable casualty of the current decline has been Ethereum (ETH). The pioneer of Smart Contracts has slid to levels under $300 and is currently trading at $256. The last time ETH was at this level was back in September last year, 2017. ETH has dropped 82% since its peak value of $1,400 back in January of this year.

More turmoil Ahead

Ethereum World News sought a comment from Investing.com Senior Analyst, Clement Thibault who summed up the current events as follows:

I believe we’re just witnessing the continuation of the cryptocurrency bear market. This is not the first or last cyclical asset to behave this way. Bitcoin itself has seen a 80+% bear market in the…

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