RATE Group | Ethereum falls below $160 as crypto markets lose $13 billion in market cap
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Ethereum falls below $160 as crypto markets lose $13 billion in market cap

24 Oct Ethereum falls below $160 as crypto markets lose $13 billion in market cap

Posted at 02:15h in Ethereum News by

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In the second major crypto crash in about a month, the market has turned red across the board, with Ethereum losing roughly 7 percent of its value in the last 24 hours.

Ethereum dropped to as low as $157 per token today, a decline of about 9 percent, though it has since recovered slightly. It is currently trading at approximately $160 per token.

And it isn’t just Ethereum feeling the pain. Yesterday, the total market capitalization for the entire crypto industry stood at around $218 billion, according to data from CoinMarketCap. Today, that figure has dropped to roughly $205 billion.

Most of the top-20 cryptocurrencies by market cap have sunk drastically. Bitcoin, for example, has dropped a full $800 from its price and is now trading in the $7,400 range. Bitcoin Cash, meanwhile, has fallen to about $209 per coin from $230, and Litecoin has fallen below the $50 price line.

Today marks the second major crash of the crypto market inside of 30 days. The first occurred in late September…

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