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Ethereum Drops to $2,436 Three-Day Low, Loses 11% In One Day

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Fri, 05/28/2021 - 09:59
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Yuri Molchan
The second biggest digital currency has crashed to $2,436 and is down 11 percent today
Ethereum Drops to $2,436 Three-Day Low, Loses 11% In One Day
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Ethereum keeps declining, now hitting the $2,436 level on the Binance exchange and shedding 11 percent in a single day.

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Image via TradingView

Related
$13.7 Billion in ETH Locked in Ethereum 2.0 Deposit Contact As London Hard Fork Draws Closer

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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.