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[Market Update] Ethereum Temporarily Drops Below $3300… ETH/BTC Also Declining

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Minseung Kang
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Summary

  • Ethereum (ETH) temporarily dropped below $3300.
  • The cryptocurrency market continues to be weak following Federal Reserve Chairman Jerome Powell's statement.
  • The ETH/BTC indicator fell to 0.03458, indicating a decline in Ethereum's relative value.
Image = Shutterstock
Image = Shutterstock

Ethereum (ETH) temporarily dropped below $3300.

As of 15:14 on the 23rd, Ethereum is trading at $3287 on the Binance USDT market, down 1.38% from the previous day. The recent cryptocurrency market has been on a downward trend following Federal Reserve Chairman Jerome Powell's statement against Bitcoin (BTC) reserves.

At the same time, the ETH/BTC indicator, which shows the relative value of Ethereum compared to Bitcoin, fell to 0.03458.

ETH
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Minseung Kang

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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