Ether, ADA Crypto Prices Hit Lowest Levels In Over 1 Year
Ethereum, the world's second-largest cryptocurrency by market capitalization, fell to the lowest level since September 2017 on Thursday.
Two of the top 10 cryptocurrencies by market capitalization are now trading at their lowest level in a year.
Ethereum, the world's second largest cryptocurrency by market capitalization, fell to its lowest price since 2017 on Wednesday, a development shared by Cardano, the world's ninth largest by market capitalization.
At 16:00 UTC, during the middle of Wednesday's trading period, the cryptocurrency ether dropped to $211 for the first time since July 30, 2017, while Cardano dropped to levels not seen since last year according to CoinDesk price data.
Ether was last seen trading at $221.88, marking roughly a 4.95 percent decline since the day's open and a 19.83 percent decline over 24-hours.
At press time, ether is one of the biggest losers among the top 10 cryptocurrencies by market capitalization and is reporting a 7-day loss of 20.06 percent. Its individual market capitalization also fell by more than $5.8 billion within that period.
Ether has now effectively erased most of the gains seen during last year's bull run and is down 84.2 percent from its all-time high of $1,357. According to CoinDesk price data, ether was trading at $337 exactly one year ago, leaving some to speculate on the possibility for a rebound.
The cryptocurrency is just one of a number of networks to see declining values during the Wednesday session. Well-known cryptos including XRP, EOS and bitcoin cash have all seen 24-hour losses in excess of 15-20 percent.
Cardano, the only other cryptocurrency asset in the top 10 to experience last year's prices, has dropped 19.07 percent over a 24-hour period and was last seen changing hands at $0.085.
The total market capitalization of all cryptocurrencies is down nearly $27 billion from its yesterday's top of $238.7 billion and is currently sitting just above $210 billion, CoinMarketCap data shows.
: The author holds USDT at the time of writing.
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