The Ethereum price (ETH/USD) has slipped below the $300 mark in today’s trading following a downtrend that has been hindering the coin’s performance in the past 24 hours.
The digital currency performed strongly on Friday amid a larger uptrend observed across the cryptocurrency market. The coin gained nearly 10% on the day and finished the session at $315.73. While the coin remained close to this level for most of the Saturday session, it dropped below the $300 mark following a sharp drop in late trading. The following session was largely uneventful, with Ethereum finishing the day at $300.83, slightly higher than its opening level of $295.67.
Ethereum has seen another decline in today’s trading, with its price falling to an intraday low of $286.03 in the early afternoon trading. At the time of writing, the Ethereum price was hovering around $290, according to data from digital currency tracker Coinmarketcap.
Ethereum’s decline today coincides with a larger downtrend affecting the digital currency market, more specifically altcoins. With the exception of the dollar-pegged stablecoin Tether (UDST), all top 10 altcoins have seen significant losses over the past 24 hours. Still Ethereum has been the biggest top 10 loser over that period, with its price having declined by more than 4%. Meanwhile, the original cryptocurrency, Bitcoin (BTC), has seen some minor gains over the 24-hour period, though it has seen some losses on Monday too, with its price dropping below the support at $6,500.
In today’s trading, the Ethereum price stood at $290.71, as of 15:55 BST. The digital coin has lost 4.2% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $29.5 billion, which makes it the second-largest digital coin on the market.
For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.