Ethereum continues its slide amid heavy selling in crypto markets

  • Ethereum is trading down 18.94% on Wednesday morning amid an onslaught of selling in many major cryptocurrencies.
  • Ethereum has lost over 35% of its value from its peak, and is currently trading at $US863.29.
  • The top cryptocurrencies have followed suit, seeing some of their values decline by half from recent record highs.Bitcoin was down 11.66% on Wednesday, while Litecoin fell by 14.93% and ripple’s XRP was down 11.61%.
  • Many crypto markets were alarmed on Tuesday by news of a proposed bill that aimed to shut down crypto markets in South Korea. The bill threatens a key market, since South Korean traders are big buyers of cryptocurrencies.
  • Bitcoin, the cryptocurrency known as “digital gold,” fell below $US10,000 on Wednesday, a milestone it had crossed in November. A few weeks ago, it almost hit $US19,000.
  • Watch Ethereum trade in real time on Markets Insider.

Read more about how investors are finding innovative ways to bank on bitcoin here.

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