Flash crash: Ethereum [ETH] he spits blood while the bear's attack destroys the $ 99 support

The bear market has shown no mercy on the cryptocurrency markets as several currencies have seen support cracks and price spirals. Some cryptocurrencies were more affected by the bear's attack, some more than others, with Ethereum [ETH] be a great example. Ethereum, which had previously fallen below the $ 100 threshold, did it again, but this time, the co-founded cryptocurrency Vitalik Buterin went even lower.

At the time of writing, Ethereum was slipping by 7.12% and trading $ 98.87. The cryptocurrency held a total market capitalization of $ 10.455 billion and a 24-hour market volume of $ 2,176 million. The etereum bear woes came to the fore a few weeks ago, when XRP, replaced Ethereum as the second largest cryptocurrency in the rankings. The disparity between market limits has also increased, with the current difference close to $ 4 billion.

Most of the trading volume of Ethereum came from Coinbit, with transactions of Ethereum valued at $ 176,672 million on the cryptocurrency stock exchange. Coinbit was closely followed by OEX, which held 6.31% of total PF trade.

The price slide has seen a significant part of the Ethereum user base's panic, especially with attacks from all neighborhoods. Justin Sun, the founder of the Tron Foundation and its CEO, has repeatedly stated that users must switch from the Ethereum network to the Tron network.

This statement has always been followed by the Tron official who provides numbers demonstrating that Tron has begun to overcome the daily transactions of Ethereum, and sometimes Ethereum and Bitcoin have combined.

One of the co-founders of Ethereum, Joseph Lubin, recently commented on the cryptocurrency and blockchain technology market, stating:

"I believe in the #blockchain technology because of the people behind it – the developers, engineers and technologists who #BUIDL The intelligent contract experts who control and protect the code The designers who deeply care about the experience of the user The marketers who tell the story of Web3 "