The price of the second largest cryptocurrency Ethereum (ETH) has fallen in the last week.
Although the cryptocurrency market is moving in an upward direction, there are rapid ups and downs. Last week, Ethereum surged to $1,621 as the Merge date approached. Approaching $2,000 on August 15, Ethereum experienced a decline this week.
Ethereum 50 Percent Down From Its Highest Price
Continuing with the Merge preparations, the ETH price charted downwards within 7 days as of August 15th. ETH, which started the week around $ 1,900, is at $ 1,620 as of the writing of the news.
ETH, which reached its highest price of $ 4,815 in November 2021, fell to the levels of 1,600 with the decline in the market and is positioned more than 50 percent below the ceiling price.
Some of the leading figures in the cryptocurrency community are not bothered by the recent drop. Former BitMEX CEO Arthur Hayes said it may be time to shop for ETH’s decline. At the same time, he predicted that Ethereum could rise to $5,000 after Merge.
The current price of Ethereum is as follows:
8457
