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.
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