The world’s second largest cryptocurrency falls 60 days low

Written by Muniza Imran ·  53 sec read >

Ethereum drops to $423.5 on 24th June at 9:00 am, which is the lowest price it has gone down to since April.

The currency greatly fluctuated on 24th June, it’s highest being $450 at 14:07. Ethereum’s price is currently $453, but it has faced a downfall of 1.12% since yesterday, according to the Coindesk. The fluctuation had no major reason behind it. It is expected that the currency to go up and down until December 2018, when it will spark up alongside other digital currencies.

Ethereum is an open-source blockchain-based cryptocurrency and is now the second largest currency of the digital world. Nearly one hundred million Ethereum is in circulation. Ethereum’s supply was noted to spark last week, on 13th June, which was quite unexpected. Ethereum co-founder, Vitalik Buterin had clearly miscalculated the judgment when he said that Ethereum in supply will be no more than 100 million in a century at least. But it seems as the Ethereum co-founder was wrong when Cryptocompare evaluated its total supply worldwide, which turned out to be more than a hundred million ether in circulation.

Even though the currencies seems to be declining at a dangerous rate, some of the currencies are showing signs of progress. According to the Coinmarketcap, Bitcoin has increased 4.63% with its price now being $6174.66. Ripple has also gone up 3.8% and its price is $0.478. Other currencies like BTC and LTC have also gone up unexpectedly. But since this is the cryptomarket, no one guarantees the ups and downs of these currencies ad their value in the coming week.