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Ether, the second largest cryptocurrency in the world by market capitalization, fell to the lowest price of 2018 on Monday.
At 4:50 pm UTC during Monday's trading session, the cryptocurrency dropped below $ 300 dollars for the first time since November 12, 2017, according to CoinDesk's Ethzeum Price Index (EPI).
ETH was last seen trading at an average price of $ 289.16 marking a decline of about 9.6% from the opening day.
At the time of printing, ETH is the biggest loser among the top 10 cryptocurrencies by market capitalization and reports a 7-day loss of 28.33%, according to CoinMarketCap data. Even its individual market capitalization has declined by over $ 10 billion within this period.
ETH has now effectively canceled 100% of its growth year on year and drops 78% from its all-time high of $ 1,337. According to CoinDesk pricing data, ether was trading at $ 289.96 exactly one year ago
Cryptocurrency is one of several networks to see downward values during Monday's session. The well known crypts including EOS, bitcoin cash and cardan have seen losses of 24 hours above 5 percent.
The total market capitalization of all cryptocurrencies is falling nearly $ 15 billion from its daily high of $ 219.4 billion and is currently at just over $ 205 billion, shows CoinMarketCap data.
Disclosure : The author holds BTC, AST, REQ, OMG, FUEL, 1, and AMP at the time of writing.
The leader in blockchain news, CoinDesk is a point of reference for the media that pursues the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.
This article is intended as news to inform our readers of various events and developments that influence, or could affect in the future, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and does not provide, sufficient information to form the basis for an investment decision, and you should not rely on such information for this purpose. The information presented here is accurate only at the date and has not been prepared by a research analyst or other investment professionals. You should look for more information about the merits and risks of investing in any cryptocurrency before deciding to buy or sell such instruments.
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