Ethereum [ETH] stoops to support point as bear feasts on bleeding market

The wrath of the hungry bear has been pulling the market for the past week. The bear has not shown mercy on Ethereum [ETH], the third-largest cryptocurrency according to CoinMarketCap, as it saw a staggering bear run on Tuesday.

According to CoinMarketCap, the coin plunged 8.84% in the past 24 hours, and is trading at $ 103.77 at press time. The price of the coin went as low as $ 99, the support, during the nosedive, but rebounded immediately.

Source: CoinMarketCap

The coin's market cap was $ 10.80 billion, with a $ 2.23 billion trading volume. In the past seven days, the coin has recorded a loss of 24%.

In terms of volume, the Korean cryptocurrency exchange with the ETH / KRW trading pair. The second in the line is DOBI trade, with the ETH / BTC trading pair. Coinbit registered at 24-hour trade volume of $ 218 million, while DOBI registered a 24-hour trading volume of $ 117 million.

DOBI trade is followed by Right BTC, OKEx, and Bitfinex.

Justin Sun, had suggested Ethereum developers migrated to Tron while providing them with four solid points to be more than Vitalik Buterin's Ethereum.

Source: Twitter

Sun said that this will not cost the developers any transaction fee. Sun also proved to attract developers by mentioning about 2,000 transactions per second and one hundred percent increase in the token value with high liquidity.

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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.