Big news about Ethereum (ETH), a type of cryptocurrency! Its price has been going down lately. Think of it like the value of a toy dropping in a store.
This drop is happening against both the US dollar and Bitcoin (BTC), another popular cryptocurrency. It's been a tough time for Ethereum investors.
Experts are trying to figure out why this is happening. Let's learn more!
- Ethereum's price fell to its lowest since May 2020.
- It's also down compared to Bitcoin.
- Experts say other cryptocurrencies are getting more popular.
- Something called "backwardation" shows people think the price will keep falling.
| Fact | Number |
|---|---|
| Lowest ETH price against BTC since | May 2020 |
| Percentage drop against highest pandemic level | 74% |
| Lowest ETH price in USD since October 2023 | $1,770 |
| Percentage drop from December 2022 high | 57% |
