Just read Ether Just Erased Half of Last Week's 35% Rally

Ether Just Erased Half of Last Week's 35% Rally

The price of ether (ETH), the world's second-largest cryptocurrency by market capitalization, sank nearly $30 today, effectively erasing half of the 35 percent rally recorded last week. At press time, ETH is trading across exchanges at an average price of $196 - down $28 and 11 percent on a 24-hour basis, according to CoinDesk's Ether Price Index (EPI). The development came after what was a record-setting week for the cryptocurrency when it recorded its highest daily trading volume in over 12 months, most of which came from buyers. The 12-month high in ETH trading volume proved to be a short-lived record, as it was surpassed by sellers today amid a broader market downturn. Bitcoin (BTC), the world's largest cryptocurrency, is faring better than most today, dropping only 4 percent on a 24-hour basis.

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Wednesday, September 19, 2018