Ethereum [ETH] continues to crash below 14%; trapped under the sign of $ 100

The month began with all cryptocurrencies showing signs of resistance to bear control on the market. However, this was shattered yesterday as the coins failed to resist the bear's attack, with most of them having exceeded their support level and entered freefall. In addition, most of the coins in the top ten were seen to bleed in two digits, including Bitcoin [BTC], Ethereum [ETH]and XRP.

Ethereum [ETH], the third largest cryptocurrency by market capitalization, continues to be one of the hardest hit currencies in the market. The coin, which is crushed by the bear, has stabilized under the sign of $ 100.

According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 86.90 with a market capitalization of $ 8.88 billion. The currency has a trading volume of $ 288 billion and has seen a significant drop of over 14% in the last 24 hours.

Ethereum price table | Source: CoinMarketCap

Most of the currency trading volume is coming from OEX with ETH / BTC. The second highest record is recorded on RightBTC with the coupling of Bitcoin and the third place is occupied by LBank. The other exchanges in List 5 include OKEx and Bitfinex.

Along with this massive fall, the cryptocurrency saw a flash crash of almost $ 12 dollars on Coinbase Pro with the USDC pairing. Nevertheless, the coin quickly returned to its old position.

Ethereum price on Coinbase | Source: trading view

Moreover, this is not the first time that the price of Ethereum collapses on Coinbase. At the start of this year, the currency crashed briefly to $ 0.1 from trade above $ 300 on Coinbase GDAX. This resulted in the exchange repaying customers who suffered a loss due to this and also allowed those customers, who made a profit due to the crash, to keep their funds.

Also this time the exchange was quick to intervene on the flash crash. They stated on Twitter:

"We are aware of the price movement on one of our orders that has occurred during normal trading activities, and within the last 24 hours all Coinbase platforms have worked as planned and no system-level incidents have been identified."