Cryptocurrencies are a popular topic that virtually everyone in the world knows about, or at least has heard about. However, this is a very unstable market, and the values that digital currencies present at the moment may no longer be the same as they present tomorrow.
In this way, recent information indicates that the value of the Ethereum cryptocurrency is already below 2 thousand euros. And this number is the lowest recorded since July 2021.
Ethereum value continues to fall
Ethereum is one of the top and most popular cryptocurrencies worldwide, after, of course, Bitcoin. However, ETH is not going through a good phase and maintains a record of several drops in its valuation.
According to the data that we can observe through the CoinMarketCap platform this Thursday (12), the digital currency is currently worth 1,872.97 euros (value determined at the time of writing this article). And this is the first time that Ethereum has reached such a low value, since July 2021, when the peak was €4,159.73.
The difference between the current value and the average of the value displayed in the last 24 hours is around 13%. However, this is not surprising since anyone who knows this market knows that it is quite volatile.
Bitcoin also shows a drop, currently worth 27,751.13 euros, when at the end of March it was worth 42,915.61 euros and on September 11, 2021 the appreciation reached a record of 57,791.6 euros. You can see the current BTC price overview in the following table.
Specialists indicate that the reasons for this decline are related to the global trend of rising inflation and fuel prices. In addition, concerns about a possible economic recession will also have some impact on this reality.
On the other hand, it is mentioned that the fall in the value of cryptocurrencies is justified by the fact that many investors are selling their holdings, while looking to make safer, less unstable investments that depend less on speculation.