Ethereum Market Report: $ETH Melts Down Alongside Bitcoin
Ether price plummets as Chinese regulatory fiasco drags down price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28. $ETH/USD is trading between a 24hr high of $281.01 and a 24hr low of $222.94 on a 24hr Bitfinex volume of 615,658 ETH. The weekly trend is down.
|last price||$ 244.28|
|one week ago||$ 337.08|
The price of ether is plummeting as the Chinese regulatory fiasco continues to drag down the price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28.
The key news is “BTCChina Exchange will stop all trading on 09/30”:
1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.
— BTCC (@YourBTCC) September 14, 2017
The news sent bitcoin and most crytpo – including ether – sharply lower.
More bad news could follow soon as the other major Chinese bitcoin exchanges – such as OKCoin and Huobi – weigh in with their corporate position on trading crypto in China.
OKCoin.com has a Singapore incorporated international trading presence and so its okcoin.cn exchange may be the only one affected by the Chinese regulatory shenanigans.
If there ever was a reason for banning fiat in crypto exchanges this Chinese regulatory fiasco could be a strong case for it. The better the separation between fiat and bitcoin the less impact fiat based governments may have on the decentralized crypto economy.
CoinMarketCap YTD Chart
Bithumb Top Ether Exchange
Korean crypto exchange Bithumb.com has again topped the list of ether exchanges with the highest volume trading in twenty-four hours:
Bithumb.com has an English language version of their website, take a look: https://www.bithumb.com/
Bitfinex holds second most daily ether market share with 12.43%. The primary data within this report is based on bitfinex.com:
Bitcoin spot prices from four major exchanges at print time:
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Price change is the percentage change within the period:
Bitfinex is the data source for this market report – except as noted.
Market capitalization is the total $US dollar value of the Ethereum market calculated using the formula:
|Market cap||$ 23,113,406,691|
|Last price||$ 244.28|
Daily High Low
The weekly trend is down.
Support is the lowest price within the period:
Resistance is the highest price within the period:
Range is the difference in price within the period:
Market sentiment is bearish.
Ether price plummets as Chinese regulatory fiasco drags down price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28. The weekly trend is down. $ETH/USD saw weekly resistance at $338.66 and weekly support at $222.94. Market sentiment is bearish.
Past history is NOT an indicator of future results. Read the legal disclaimer:
Ethereum, $ETH, USD, Bitfinex, Market, Report, $ETH/USD, altcoins