Ethereum keeps declining, now hitting the $2,436 level on the Binance exchange and shedding 11 percent in a single day.
The highest level reached by the second-largest crypto a day earlier was $2,886. The coin's market cap is now down to $290,989,404,272, but it is restoring gradually along with the ETH price.
This fall seems to be the result of the current Bitcoin decline, caused by Chinese regulators clamping down on cryptocurrencies and crypto mining due to CO2 issues.
The drop has occurred despite growing institutional interest in Ether and validators continuing to lock large amounts of ETH in the Ethereum 2.0 deposit contract.
Denys Serhiichuk
Alex Dovbnya
Arman Shirinyan