Two of the top 10 cryptocurrencies by market capitalization are now trading at their lowest level in one year.
The worlds second largest cryptocurrency by market capitalization fell at its lowest possible price since Wednesday, 2017, a development shared by the world’s ninth largest by market capitalization.
At 16:00 UTC, a middle of Wednesday’s trading period, cryptocurrency ether was $211 for the first time since July 30, 2017, while Cardano was not seen as per price data from last year.
At press time, ether is one of the top 10 cryptocurrencies by market capitalization and it is reporting a loss of 7 days. Within that period, its separate market capitalization fell to more than $5.8 billion.
Ether has effectively erased most of the benefits seen during last year’s bull run and it is 84.2 percent below the highest time of $1,357. According to the price data, ether was trading at $337 a year ago, speculating on the possibility of some rebounds.
Cryptocurrency is one of the many networks to see prices falling during Wednesday’s session. Well known cryptos including XRP, EOS and Bitcoin cash, all seen 24-hour losses in excess of 15-20 percent.
To experience last year’s prices, Cardano the only other cryptocurrency asset, dropped to 19.07 percent in 24 hours and finally last changing hands at $0.085.