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Ethereum Price High Collapses as Crypto Markets Crash

Ethereum Price High Collapses as Crypto Markets Crash
Don't look now, but your cryptocurrency portfolio might be down, oh about 20% since yesterday.
The price of Ethereum , fresh off a record high of $1,432 set two days ago, is now trading at between $1,050 and $1,100, according to price data from CoinMarketCap . That represents a 20% price drop in the last 24 hours.
And it's not just Ether. With the exception of stablecoin Tether , all other coins in the top 10 are down for the day as well: Bitcoin (-16%), Polkadot (-14%), XRP (-16%), Cardano (-22%), Litecoin (-15%), Bitcoin Cash (-19%), Chainlink (-18%), and Binance Coin (-11%).
Top 10 coins as of January 21, 2021. Image: CoinMarketCap
The plunge has taken the total cryptocurrency market capitalization (the combined values of all cryptocurrencies tracked by CoinMarketCap) all the way down to $852 billion. Earlier this month, that figure had moved north of $1 trillion .

Ethereum has fallen 15 spots to #87 in market cap when compared to stocks and other cryptocurrencies, according to Asset Dash . Bitcoin has tumbled to #12.
Financial analysts have been speculating about whether crypto was a bubble ready to pop. With today's correction, however, Ether remains priced much higher than it was at any point in 2020. It ended the year at $735.

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