Ethereum (ETH) price drops to its lowest level since March 2021
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Answer Ethereum (ETH) price drops to its lowest level since March 2021
Bitcoin continues to fluctuate and return to levels below $30 thousand.
The recent decline in the price of Bitcoin reached up to 28 thousand dollars, which negatively affected the alternative digital currencies and made them suffer both.
One of the major altcoins affected by the recent resurgence of Bitcoin is Ethereum.
The price of Ethereum, the second largest cryptocurrency by market cap, fell to an intraday low of $1,629 on Bitstamp trading platform, the lowest since March 28, 2021.
The price of Ethereum is now down 65.56% from the record peak of $4,878 that the second largest cryptocurrency managed to achieve in November 2021.
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The cryptocurrency market has fallen after inflation in the United States reached its highest level in the last 41 years, as investors prepare for more price increases this year.
Some of the major cryptocurrencies were hit harder than Ethereum, as the price of Cardano fell below $0.6.
While Solana and Ripple declined by 8% and 5%, respectively.
The recent decline in the price of Bitcoin and most of the altcoins made the total market capitalization of the crypto market drop below $1.2 trillion.
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