The Ethereum price (ETH/USD) hit an 11-day lo in the early hours of today’s trading, but the digital currency has since pulled back significantly as the recent crypto rally has seemingly come to a halt.
The second-largest cryptocurrency on the market maintained the positive momentum it had gained on Monday afternoon during the early hours of today’s session, with its price rising to an in intraday high of $483.85. This was also Ethereum’s highest price level since June 22, according to data from digital currency tracker Coinmarketcap.
However, since then, the cryptocurrency has seen a significant decline, especially in early afternoon trading, when its price fell to as low as $466.74. The coin has seen a slight uptick in more recent trading, but quickly returned below the $470 mark. At the time of writing, the Ethereum price was hovering around $468, down from its Monday close of $475.35.
The wider cryptocurrency market has experienced a similar pattern, with most major digital coins pulling back from their morning highs in the afternoon. One of the few notable exception to this trend has been Cardano (ADA), which is often described as the “Ethereum of Japan”. Despite seeing some steep drops during the session, the coin is currently trading at $0.162, up from its yesterday close of $0.158.
The total value of the digital currency market currently stands at $269.3 billion, down from its earlier high of $276.3 billion.
In today’s trading, the Ethereum price stood at $468.21, as of 16:22 BST. The digital coin has lot 1.1% of its value, Coinmarketcap data shows. The coin currently has a market capitalisation of just over $47 billion, which makes it the second most valuable digital currency on the market.
For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.