Ethereum Rebounds as Bitcoin Holds Steady

[MRM]

ETH rebounds after crash, Bitcoin holds firm. The price of Ethereum, the second largest cryptocurrency by market cap, has made a brief recovery after a terrible week.

It had been hammered all of this week, falling from its two year high of $487 on Wednesday to $316 on Saturday evening. That's a decline of 35% in just three days.

The market fared a little better today. Its price rose to $356, an increase of 12%. It's still a great distance away from its peak of $487 early this week, but traders may feel lucky to not have lost far more.
Source: https://decrypt.co/41017/ethereum-rebounds-as-bitcoin-holds-steady

[highnayem34]

Speculators may only, er, speculate about why $316 was Ethereum's price floor. Perhaps it had something to do with SushiSwap, the decentralized finance project that stoked fear in the DeFi community after its leader, Chef Nomi, dumped all his tokens on the market yesterday.