Ether prices fell below $190 today amid a wider drop in cryptocurrency markets.
According to WorldCoinIndex, ether (the cryptocurrency of the ethereum network) is trading at $183.41 on South Korea-based Bithumb, the world’s most voluminous exchange for the token.
The move comes just three days after ether fell below $200 to hit a 40-day low, representing a more than 50% decline from the $400-odd prices seen in early June. According to CoinDesk data, prices were still well above $300 on June 14, after crossing the $100 mark for the first time in May.
The drop in the price of ether comes during a broader decline in cryptocurrency markets in recent days. Data from CoinMarketCap.com reveals that the collective market capitalization of all cryptocurrencies has fallen below $80bn, after climbing as high as $115bn last month.
Bitcoin prices are down about 6.5% at press time, sliding to $2,209.41 after opening the day at $2,364.52.
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Correction: This article has been amended to reflect that the collective market capitalization of all cryptocurrencies has fallen below $80bn, not $80m.