Ether prices are down more than 11%, dropping below $200 amidst a wider market fall among the world’s top cryptocurrencies.

According to CoinDesk data, the price of ether – the cryptocurrency of the ethereum network – fell to as low as $196, with data provider Ethereumprice.org showing the market’s weighted average sliding to $195.59 during recent trading. The last time ether prices fell below $200 was on July 19, available market data reveals.

At press time, the price of ether is at $197.35, representing a decline of roughly 11.5% since the day’s open of $223.23.

Similarly sharp price drops are occurring in other cryptocurrency markets, according to CoinMarketCap.com data site, with the top 10 (by market cap) all demonstrating declines of 7% or greater.

Bitcoin prices are down roughly 10% today, CoinDesk Bitcoin Price Index (BPI) data shows, trading at about $2,503 as of press time. Bitcoin markets hit a low of $2,487.13 during the day’s trading, after opening at $2,779.04, according to the BPI.

NEM, Monero and Stratis saw significant declines as well, with those markets dropping by roughly 12%, 13% and 23% as of press time, respectively.

The declines come after cryptocurrency markets spiked upwards on Friday, climbing above the $90bn market cap line for the first time in weeks. Currently, the collective market capitalization for the world’s cryptocurrency markets stands at roughly $84.9bn, according to CoinMarketCap.

Image via Shutterstock

Read more about...

PricesNewsMarkets
Disclaimer Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.