The largest altcoin, Ethereum, has lost around 12% in the last 24 hours.
According to the data of the cryptocurrency exchange Coinbase, Ethereum dropped by 11.56% in the last 24 hours, falling to $ 1,517.
Ethereum sits well below its all-time high of $4,891. The asset had lost 14.04% last week.
Ethereum accounts for around 13% of the cryptocurrency market and remains the largest cryptocurrency after Bitcoin. There are 121.1 million Eth in circulation.
Ethereum’s transition to proof-of-stake is getting closer every day. Recently, proof-of-stake merger on Ethereum’s Ropster testnet was successfully completed.
Ethereum founder Vitalik Buterin stated that after the trial on the Ropster testnet, it was too early to say that it was a definite success.
Ethereum is trading at $1,518 at the time of writing.
