Ethereum Crashes Below $324, Ratio Dives

9w
2m read
Summary

Likewise news now appears to have little effect, with the bear market instead set on finding a bottom somewhere. Ethereum lost some 10% to bitcoin during the bear sell-off, with eth’s ratio now at 0.051 from nearly 0.056. Brutal Friday in ethereum has wiped out billion off its market cap, sending its price to a recent low of $310 from $370. Just what happened remains unclear, but while red greets all cryptos, it does so more for eth than much of all else. Moreover, there is disappointment in eth due to the delay of Casper which appeared imminent at the beginning of summer.

Article Preview

Brutal Friday in ethereum has wiped out billion off its market cap, sending its price to a recent low of $310 from $370.

The meme price of $324 was crossed in an evening of endless selling when walls of 1,000 eth or more were taken down without stop until it neared the Spartans of $300.

Ethereum’s brutal Friday.

Just what happened remains unclear, but while red greets all cryptos, it does so more for eth than much of all else.

Ethereum lost some 10% to bitcoin during the bear sell-off, with eth’s ratio now at 0.051 from nearly 0.056.

Ethereum/Bitcoin ratio on August 11th 2018.

That might suggest perhaps something happened on Friday which affects eth more than other cryptos. In which case we should learn on Monday if there is any news to fuel this sell-off.

Yet it may also be the case that perhaps sentiment is just slightly worse in eth than in bitcoin, potentially due to ICOs which can add to selling pressure with plenty...

Read the full article @ TrustNodes