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Ether Prices Plunge To 7-Month Low

| Published on December 2, 2016 at 22:50 GMT
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Source: Poloniex

Ether (ETH) prices struck a seven-month low on 2nd December, extending the losses suffered earlier in the week. ETH fell to as little as $7.60 at 15:55 UTC, according to Poloniex figures. The last time the price dropped to this level was in late April.

The price of ether – the cryptocurrency of the ethereum network – managed to recover later in the session, reaching $7.88 at 17:10 UTC, additional Poloniex data reveals. In spite of this improvement, ETH followed a steady, downward movement during the day, peaking when it opened the session at $8.40.

Ether prices have been encountering headwinds recently as their platform has dealt with a series of technical challenges. The ethereum network has undergone a series of forks, the latest of which was unintentional and resulted in the network being split between two transaction histories for a brief period of time.

Since the Thanksgiving fork, ethereum developers say they have moved to improve existing practices in order to prevent a similar situation from occurring.

Image via Shutterstock

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