Ether, the world’s second-largest cryptocurrency by market capitalization, fell to its lowest price of 2018 on Monday.
At 16:50 UTC during Monday’s trading session, the cryptocurrency fell below $300 dollars for the first time since November 12, 2017, according to CoinDesk’s Ethereum Price Index (EPI).
ETH was last seen trading at an average price of $289.16, marking a roughly 9.6 percent decline since the day’s open.
At press time, ETH is the biggest loser among the top 10 cryptocurrencies by market capitalization and is reporting a 7-day loss of 28.33 percent, according to data from CoinMarketCap. Its individual market capitalization also fell by more than $10 billion within that period.
ETH has now effectively erased 100 percent of its year-on-year growth and is down 78% from its all-time high of $1,337. According to CoinDesk price data, ether was trading at $289.96 exactly one year ago
The cryptocurrency is one of a number of networks to see declining values during the Monday session. Well-known cryptos including EOS, bitcoin cash and cardano have all seen 24-hour losses in excess of 5 percent.
The total market capitalization of all cryptocurrencies is down nearly $15 billion from its daily high of $219.4 billion and is currently sitting at just above $205 billion, CoinMarketCap data shows.
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st, and AMP at the time of writing.
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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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