- Ethereum’s price has dropped to $1,897, marking a 6.77% decline in 24 hours and a 28% decrease this month, with a 50% loss over the past year
- The cryptocurrency has erased over 55% of its value since peaking at $4,112 in December 2024, losing all gains from the post-Trump election rally
- Nearly $200 million in Ether liquidations signal a bearish trend, with Ethereum revisiting the $1,800 level last seen during a downward trend in May 2022
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has reached its lowest level in over 2 years.
As of right now, ETH trades at $1,897 down 6.77% over the last 24 hours according to CoinMarketCap. These daily losses add up to a 28% decrease in the month and a 50% decline over the last year.Â
Perhaps even more worrisome, the market’s most valuable altcoin has lost over 55% of its value since its peak of $4,112 on December 4th. Ethereum has now erased all profits seen during the market rally after the Trump election.
The last time Ethereum traded around the $1,800 level was on October 23, 2023. At that point, the altcoin was riding a bullish trend that eventually propelled its price to over $4,000.
This time, however, the second-largest cryptocurrency has reached this zone during a downward trend. The last similar occurrence was in May 2022, which eventually saw Ethereum drop as low as $879 before rebounding.
At this time of writing, nearly $200 million was liquidated from the Ethereum market, signaling yet another alert that the currency may indeed have entered a bearish trend.Â
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