bitcoin
Bitcoin (BTC) $ 17,274.44
ethereum
Ethereum (ETH) $ 1,288.11
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 291.62
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.392413
dogecoin
Dogecoin (DOGE) $ 0.098450
cardano
Cardano (ADA) $ 0.315547
matic-network
Polygon (MATIC) $ 0.922855
polkadot
Polkadot (DOT) $ 5.41
staked-ether
Lido Staked Ether (STETH) $ 1,275.48
litecoin
Litecoin (LTC) $ 77.40
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 20.99
dai
Dai (DAI) $ 1.01
solana
Solana (SOL) $ 13.76
tron
TRON (TRX) $ 0.054055
uniswap
Uniswap (UNI) $ 6.21
avalanche-2
Avalanche (AVAX) $ 13.41
leo-token
LEO Token (LEO) $ 3.81
chainlink
Chainlink (LINK) $ 7.06
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 17,247.39
cosmos
Cosmos Hub (ATOM) $ 9.81
the-open-network
Toncoin (TON) $ 1.82
monero
Monero (XMR) $ 147.43
ethereum-classic
Ethereum Classic (ETC) $ 19.17
stellar
Stellar (XLM) $ 0.085684
bitcoin-cash
Bitcoin Cash (BCH) $ 112.01
quant-network
Quant (QNT) $ 123.85
crypto-com-chain
Cronos (CRO) $ 0.064941
algorand
Algorand (ALGO) $ 0.224705
filecoin
Filecoin (FIL) $ 4.43
apecoin
ApeCoin (APE) $ 3.94
near
NEAR Protocol (NEAR) $ 1.70
vechain
VeChain (VET) $ 0.019093
hedera-hashgraph
Hedera (HBAR) $ 0.048100
internet-computer
Internet Computer (ICP) $ 4.34
trust-wallet-token
Trust Wallet (TWT) $ 2.62
eos
EOS (EOS) $ 1.00
flow
Flow (FLOW) $ 1.04
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 45.21
terra-luna
Terra Luna Classic (LUNC) $ 0.000174
frax
Frax (FRAX) $ 1.00
axie-infinity
Axie Infinity (AXS) $ 8.17
the-sandbox
The Sandbox (SAND) $ 0.592451
tezos
Tezos (XTZ) $ 1.00
aave
Aave (AAVE) $ 63.19
theta-token
Theta Network (THETA) $ 0.871963
huobi-token
Huobi (HT) $ 6.55

How low can Ethereum drop?

0

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ETH price has not been left behind in the ongoing cryptocurrency meltdown. Ethereum crashed to a low of $1,136, which was the lowest level since July last year. The coin has crashed by more than 27% from the highest level this year, bringing the year-to-date losses to over 60%.

FTX crash could benefit Ethereum

Ethereum price has been in a strong bearish trend in the past few months as cryptocurrencies crash. This week’s sell-off was triggered by the crash of FTX, the third-biggest crypto exchange in the world.

Most cryptocurrencies have plunged as investors predict that this could be the industry’s Lehman moment. As a result, many investors have exited their crypto positions.

Still, a closer look at the situation shows that Ethereum could actually benefit from this crash. For one, in the past few months, we have seen the collapse of several centralized exchanges (CEX), including Voyager Digital, Celsius, Vauld, and BlockFi.

In the same period, most DeFi exchanges like Uniswap, PancakeSwap, and SushiSwap have continued doing well. This is notable since Ethereum hosts some of the biggest DEXes in the world like Uniswap, Curve, SushiSwap, and dYdX among others.

Analysts believe that DEXes are better than CEXes for several reasons. First, they are open-source in nature, meaning that anyone can manipulate the code. Second, DEXes are transparent, meaning that anyone can track the flow of coins in their ecosystems.

Third, they are decentralized in nature, meaning that insiders don’t have more significant powers than other DAO members. 

Therefore, there is a likelihood that DEXes will continue thriving in the long term. And if this happens, Ethereum will benefit since it is the biggest player in the industry.

Nonetheless, for now, Ethereum and other crypto prices will likely continue falling as concerns about the industry remain.

Ethereum price prediction

The daily chart shows that ETH price has been in a strong bearish trend in the past few months. The sell-off accelerated this week after the collapse of FTX, As it dropped, it managed to move below the important support level at $1,236, which was the lowest level in October.

It has moved below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the oversold level. Therefore, Ethereum price will likely continue falling as sellers target the key support level at $1,000.

How to buy Ethereum

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

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Disclaimer

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy ETH with Bitstamp today



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