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Ethereum's Woes Continue as Price Sinks to 9-Month Low
Ether (ETH) prices fell to a nine-month low on 5th December, extending losses suffered in recent weeks.
Ether (ETH) prices fell to a nine-month low on 5th December, building on the losses suffered in recent weeks.
STORY CONTINUES BELOW
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Ether, the digital asset used to power platform ethereum, reached $7, the lowest since 1st March, according to CoinMarketCap. The digital currency hit this price at 18:44 UTC, and then lingered at this price until rising to $7.01 at 19:01 UTC, CoinMarketCap data shows.
Ether prices quickly mounted a modest recovery, rising to $7.10 by 19:10 UTC.
Yet, ether experienced these price fluctuations amid modest volume, as 24-hour trading volume fluctuated between $13m and $14m when the digital currency lingered at $7.
The digital currency’s prices have been encountering headwinds as the ethereum platform has run into continued technical difficulties. Ethereum's developers have conducted three hard forks in four months, and the network unintentionally split late last month when two of the platform’s clients integrated different logic.
Sinking boat image via Shutterstock; Coinmarketcap
Charles Lloyd Bovaird II
Charles Lloyd Bovaird II is a financial writer and editor with strong knowledge of asset markets and investing concepts. He has worked for financial institutions including State Street, Moody's Analytics and Citizens Commercial Banking. An author of over 1,000 publications, his work has appeared in Forbes, Fortune, Business Insider, Washington Post, Investopedia and elsewhere. An advocate of financial literacy, Charles created all the industrial finance training for a company with more than 300 people and spoke at industry events across the world. In addition, he delivered speeches on financial literacy for Mensa and Boston Rotaract.
