Crypto Update: Ethereum tanks over 6%, trades at $3,059 after recovering $106 from intraday low

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Ethereum (ETH) witnessed a significant sell-off today, plummeting by 6.70% to trade at $3,059.49 as of 3:36 PM UTC. The cryptocurrency opened at $3,265.57, its previous close, and faced heavy downward pressure throughout the session. It marked an intraday low of $2,953.12, highlighting the volatility in the crypto markets.

The day’s trading range spanned between $2,953.12 and $3,329.07, reflecting significant price fluctuations. Ethereum’s market capitalization now stands at $368.647 billion, while its 24-hour trading volume surged to $30.4 billion, indicating heightened activity as traders reacted to market dynamics.

Despite the sharp decline, Ethereum remains a dominant player in the cryptocurrency space, with its circulating supply at 120.49 million tokens. Investors are closely watching for signs of recovery or further downside, as broader market trends and macroeconomic factors continue to influence crypto prices.

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Disclaimer: The information provided here is for informational purposes only and should not be interpreted as financial or investment advice. Cryptocurrency investments are subject to high volatility and market risks. Readers are advised to consult a financial advisor or conduct thorough research before making investment decisions.

Ethereum tanks over 6%, trades at $3,059 after hitting an intraday low