RATE Group | Ethereum Falls to Below 8% of Entire Cryptocurrency Market
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Ethereum Falls to Below 8% of Entire Cryptocurrency Market

07 Aug Ethereum Falls to Below 8% of Entire Cryptocurrency Market

Posted at 23:05h in Cryptocurrency News by

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The market capitalisation of the Ethereum network has fallen below the levels observed prior to its epic price run up in 2017. The total value of all Ether (ETH) tokens in existence now accounts for just less than eight percent of the entire cryptocurrency market.

At the height of Ethereum hype, the smart contract platform accounted for over a third of the wider digital currency market. This caused its proponents to claim that it would overtake Bitcoin in a so-called “flippening”.

Ethereum’s Fall from Grace

As highlighted by Twitter user @StopAndDecrypt earlier today, Ethereum’s share of the entire cryptocurrency market has fallen to just 7.86 percent. This is the lowest it has been since early March 2017.

High profile interest in the smart contract platform caused a lot of the hype that saw Ethereum’s rise to over a third of the entire…

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