Ethereum

Bitcoin

Gary

April

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">By the afternoon of April 21st, Ethereum’s price stood near $1,840 for the first time since April 8th. The world’s second-largest cryptocurrency suffered a notable decline since Monday dropping more than 13% in five days, and around 5% on Friday alone. Bitcoin and multiple major cryptocurrency-related stocks <a href="https://tokenist.com/bitcoin-finds-footing-just-above-28k-is-the-crypto-rally-over/" rel="dofollow" class="deco-link">performed in a similar fashion</a> in the second half of this week.</p> 
<h3 id="eth-down-13-since-monday-5-on-friday-alone">ETH Down 13% since Monday, 5% on Friday Alone</h3> 
<p>After reaching a multi-month high of more than $2,100 on Tuesday, Ethereum went into a steep decline for the rest of the week. Over the course of the week, the world’s second-largest cryptocurrency fell by more than 13%. By Friday afternoon, ETH stood near $1,840.</p> 
<p>This week’s decline brought the cryptocurrency near its lows from early in the month and to the lowest price seen since April 8th. It also erased the gains of the rally that accompanied <a href="https://tokenist.com/ether-crosses-2000-as-shanghai-upgrade-completed/" rel="dofollow" class="deco-link">Ethereum’s much-anticipated “Shapella” upgrade</a> which was successfully completed on April 12th rapidly bringing the price above $2,000.</p> 
<p>The upgrade itself represented the latest important development in the cryptocurrency’s transition to the proof-of-stake model. The fact that it enabled unstaking caused significant fears that it would cause a downturn though that fear seemingly never materialized as the bulk of requests originated with Kraken—the exchange that was recently forced by the SEC <a href="https://blog.kraken.com/post/17619/settlement/" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">to terminate its staking service entirely</a>.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="bitcoin-major-crypto-stocks-experience-similar-performance">Bitcoin, Major Crypto Stocks Experience Similar Performance</h3> 
<p>While it is currently hard to pinpoint the exact reason for the downturn, the decrease in prices is visible across the entire digital assets industry. Bitcoin, the world’s largest cryptocurrency, has been behaving very similarly to ETH and has declined a little over 10% over the course of the week barely hanging above $27,000 by Friday afternoon.</p> 
<p>The downturn comes after a significant <a href="https://tokenist.com/was-bitcoins-january-rally-driven-by-smart-money/" rel="dofollow" class="deco-link">rally that started already in January</a> and saw a relatively brief period of stagnation in February. The rally saw Bitcoin rise from around 16.000 on New Year’s Day to above $30,000 before this week’s decline started. Similarly, major cryptocurrency-related stocks performed very well in 2023 and entered into a steep decline several days ago.</p> 
<p>Coinbase, for example, is 75% YTD, but 12% in the red in the previous five days. While the industry has been under significant pressure for some time with SEC’s Chair Gary Gensler recently ramping up his rhetoric by stating that <a href="https://tokenist.com/crypto-firms-generally-not-compliant-says-secs-gary-gensler/" rel="dofollow" class="deco-link">most cryptocurrency firms are not compliant</a>, this week had its fair share of disturbing news.</p> 
<p>Earlier this week, the report that the <a aria-label=" (opens in a new tab)" href="https://www.theguardian.com/business/2023/apr/19/uk-inflation-falls-consumer-prices-index" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">inflation in the UK is still above 10%</a> caused widespread concern across the markets and offers one possible explanation for the downward movement. Additionally, on Tuesday, Gary Gensler testified before Congress and further sparked fears about the future of digital assets in the US with <a aria-label=" (opens in a new tab)" href="https://twitter.com/FinancialCmte/status/1648340626486996995" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">his hawkish yet vague responses</a> to cryptocurrency-related questions.</p> 
<p><em>Editorial note (April 24th, 11:25 AM EST): The headline was updated for clarity.</em></p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><strong><em>How long will the current downturn last? Tell us what you think in the comments below.</em></strong></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/ethereum-near-april-lows-after-sliding-13-since-tuesday/">Ether Slides Down 13% to $1,840, Nears Monthly Low</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Ether Slides Down 13% to $1,840, Nears Monthly Low

목차

Tokenist

2023년 4월 21일에 게재된 다른 기사

A crypto influencer is under a sweeper bot attack. How can Beosin help recover his funds?

Top crypto tweets of the day – April 24th

Solana rallies after network’s carbon emissions tracker launch

U.S. National Security at Risk as China Gains on Payments Dominance

IOTA Shifts Focus from MVP to IOTA Core, Adding Mainnet Functionality to GoShimmer Consensus

Over Cardano (ADA) and Binance Coin (BNB), Sparklo (SPRK) is Revolutionizing Alternative Investme...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!