Ethereum [ETH] feel the weight of the bear; drops 4% -AMBCrypto


The markets open today to most cryptocurrencies have seen red after a couple of bullish days. None of the most popular cryptocurrencies has been spared from the bear which was made evident after statistics showed that the combined fall of the first 5 cryptocurrencies was higher than the coins remaining in the top 10 cryptocurrency clubs. Cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP showed quick slides that were in stark contrast to last week.

At the time of writing, Ethereum [ETH] it was falling at the rate of 4.63% with a total market capitalization of $ 22.379 billion. The cryptocurrency was trading at $ 219.69 with a 24-hour market volume of $ 1.701 billion.

Most of the trading volume of Ethereum was held by BitForex with a total majority of 6.98%. The total volume of the cryptocurrency exchange amounted to $ 143.99 million, which was followed closely by $ 104.09 million of the DOBI trade.

The 7-day chart of Ethereum | Source: CoinMarketCap

The 7-day chart of Ethereum | Source: CoinMarketCap

Ethereum has also created a greater disparity with XRP in terms of market capitalization. The current difference between Ethereum and XRP is $ 1.67 billion.

Ethereum was also in the news recently when the Enterprise Ethereum Alliance [EEA] announced its partnership with Hyperledger, a partnership that aims to advance cross-border blockchain technologies. Ron Resnick, the executive director of the AEA stated:

"Collaboration through mutual partnership membership offers more opportunities for both organizations to work more closely together, and Hyperledger developers joining the EEA can participate in EEA certification to ensure project solution compliance related to the Enterprise Ethereum Client specification. "

Bitmex's research reports have also put Ethereum in the spotlight when it was revealed that ICOs have already sold all the pawns that they had generated in the beginning combined with US dollars.

BitMEX on his Twitter said:

"Filecoin has the biggest net gain, deriving from Ethereum which may have already been sold"

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