Ethereum’s (ETH) $32 Billion Catastrophe Continues

Krutika Adani

$32 Billion Wiped From Market Cap

In the last seven days, Ethereum has seen the erosion of $32 billion from its market cap.

Price Struggles Near $2300

Ethereum’s price has again dropped down below $2500, and at press time was around $2386.

Why Is ETH Facing Trouble?

Several factors including low ETF inflows, Grayscale’s sell-offs, and a reduced on-chain volume have pushed ETH’s price down.

Accumulation Zone

Though ETH faces some uncertainties in the short term, its long-term prospects remain strong. ETH will continue to play a central role in the world of crypto. This gives us a good accumulation opportunity.

Bitcoin Also in Limbo

After combating low volatility and low liquidity for over the last 200 days, Bitcoin now faces a situation that leaves it with uncertainty in the near term.

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