All cryptocurrencies are in one way or the other facing their Waterloo which is not different from what is happening to Ethereum.
Ethereum’s price, the world’s second largest cryptocurrency by market capitalization, dropped to a 74-day low below $430 – a level not seen since April 12.
As of writing this, Ethereum is back above $450 but still down 3.36 percent over a 24-hour period. Further, on a year-to-date basis, Ethereum is reporting a 60 percent decline from this year’s high of $1.326 seen on Jan. 14.
Bitcoin, Litecoin, EOS and other CryptoCurrencies are also flashing red but showing small signs of a recovery.
EOS, the world’s fifth largest cryptocurrency by market capitalization, tells a similar story which is down 3.6 percent but has recovered from a low of $6.89 back to $8 as of press time, data from CoinMarketCap shows.
For the first time since April 7 that the total market capitalization for all cryptocurrencies hit low to just $250 billion.
With all these fluctuations, what’s the future of cryptocurrency to you?