Ethereum, the second largest cryptocurrency has dipped consecutively with the price falling below $1,800.
This is coming after its successful Goerli testnet merge. The impact of the testnet merge led to a rise in the price of Ethereum by 12% to $1886. The Ethereum network had witnessed higher activity as participants purchased more ETH in the past few weeks.
The sudden uptrend seems to be short-lived. Just as the crypto market is experiencing the exit of the bulls, Ether is not left behind. The past few days have been a struggle for the Ethereum token. The ETH’s price trend data indicate a down-move for the past four days.
Currently, the market cap for the world’s second-largest cryptocurrency sits at $225 billion. ETH is trading at around $1,700, with a major loss in the past 24 hours. Recall that the token increased its value by about 100% at the beginning of July. But from the beginning of this week, Ethereum has been shading off value with its price drop.
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