Ethereum’s price has fallen to $1,795.90, down 1.41%. Trading volume decreased by 16.22% amid worries of market interest waning. Ethereum’s market cap is about $216.8 billion. Macroeconomic factors, like interest rate news, are influencing crypto values. New developments in the market, including Tether’s minting and SEC delays on crypto ETFs, are also significant.
Ethereum (ETH) is on a downward trend, currently trading at $1,795.90, down from $1,821.58—a drop of 1.41% in just 24 hours. The trading volume has also taken a hit, plummeting by 16.22% to around $14.2 billion. This combination of falling price and volume may signal a potential trend reversal, suggesting that traders are losing interest amid various new developments and broader economic conditions.
Looking at the bigger picture, Ethereum’s price has gained a slight 0.19% over the week. Its total market capitalisation now stands at approximately $216.8 billion. In the last day alone, notable top gainers include Core, UNUS SED LEO, and KuCoin Token, while DeepBook Protocol, Virtuals Protocol, and Walrus faced significant losses.
In the crypto sphere, new token launches usually help drive demand. When a token is listed on exchanges, it enhances liquidity, allowing more participants to get involved—generally a positive sign for the asset’s value. Conversely, hacks, which involve attackers exploiting vulnerabilities to steal tokens from DeFi platforms or exchanges, can create panic and lead to sell-offs, affecting prices significantly.
Macroeconomic factors are also in play. Events like the US Federal Reserve’s decisions on interest rates have a considerable impact on crypto assets due to their effects on the US Dollar. Typically, a rise in interest rates can cast a shadow over Bitcoin and altcoin prices, causing them to dip. Alternatively, when the dollar weakens, trading leverage increases, which might propel crypto prices higher.
Halvings—reducing the rewards for mining—are viewed as bullish events because they cut down supply. If demand remains steady as supply shrinks, prices usually have room to climb.
However, it’s important to note that the information presented here is part of an ongoing dialogue. The content cannot be viewed as financial advice, and readers should conduct their own research before making any investment. FXStreet does not guarantee the accuracy or timeliness of the information provided and bears no responsibility for any potential financial decisions made based on this article.
As for the broader market, Bitcoin is also seeing some movement. As of Wednesday, it stabilised around $95,000, with hints of a possible surge to $100,000. Meanwhile, Ether and Ripple are mirroring Bitcoin’s trends, maintaining key price levels.
In other news, Tether has been minting a significant amount of USDT, with 2 billion being created on Ethereum and another 1 billion on TRON, reflecting strong demand for stablecoins. Additionally, the SEC has delayed a decision on Franklin Templeton’s spot XRP ETF until June 2025, while Trump Media has announced new plans for a utility token and crypto wallet tied to Truth Social, causing a stir among investors.
Bitcoin’s recent performance has also been noteworthy, consolidating around $94,000 after a bullish 10% surge earlier this week. As always, caution is advised when engaging in the volatile world of crypto trading, and we recommend using reputable brokers for any investments.
