Ethereum cryptocurrency had a rough year as compared to other top cryptocurrencies. The price of ETH is currently trading around $124, which is quite less than $152 at which the cryptocurrency started the month. Ethereum blockchain network is also facing criticism for its planned hard fork. The short term prediction for ETH is quite bearish based on market conditions.
ETH likely to drop even lower.
The price of ETH saw quite a sluggish holiday season as the price of the cryptocurrency continued to drop. The second-largest cryptocurrency was trading at $134 on December 23, but since then, it has retraced more than 8% to $123. According to ViewBase, a large number of ETH has hit leading exchanges over the last 24-hours. ETH worth $25.6 million has been deposited at Binance, Kraken, and Huobi.
— ViewBase (@viewbasecom) December 25, 2019
Trading volumes of ETH also drops.
Trading volumes of the second-largest cryptocurrency ETH has also taken quite a hit during this holiday season. ETH is already trading at levels not seen since the start of the year’s bull run. Ethereum is struggling to gain any positive momentum at the time but things could change as Ethereum 2.0 promises to amend several problems with the current network. Earlier, a hacker stole worth $50 million in Ethereum from the South Korea-based crypto exchange Upbit.