Ethereum for the first time in history collapsed by 70% in a quarter

Posted 04 July, 2022

The Ethereum exchange rate decreased by 70% in April — June for the first time in its history. As of April 1, the price of the largest altcoin by capitalization was 3.5 thousand USD, but in three months it dropped to 1 thousand USD, according to CoinMarketCap.

Prior to that, the coin showed the most significant quarterly losses in the first and third quarters of 2018: in January — March, Ethereum lost 50% in price, dropping from 800 USD to 400 USD, and in July — September by 48%, from 450 USD to 220 USD.

The last time Ethereum showed quarterly growth was at the end of last year: the asset grew by 29% from 2.8 thousand USD to 3.7 thousand USD. The decline in the price of Ethereum began in the first quarter of 2022 and then amounted to about 5% — from 3.7 thousand USD to 3.5 thousand USD.

In April — June 2022, other cryptocurrencies also fell in price. The price of bitcoin decreased by 56%, from 45 thousand USD to 19 thousand USD, the Binance Coin rate fell by 53%, from 450 USD to 210 USD. The overall market valuation decreased by 58%, from 2.1 trillion USD to 870 billion USD.

Ethereum's capitalization dropped to 127 billion USD with daily trading volumes of 18 billion USD and a market share of 14.38%. The asset is trading 78.4% below the historical maximum of 4.8 thousand USD, which was set in November 2021.

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