Crypto Crash: 5 Biggest Losers

With a $117 billion market cap, Ether is second only to Bitcoin in the trillion-dollar cryptocurrency market. Therefore, its downward trajectory makes for scary headlines that send the rest of the crypto industry tumbling further down. Ether fell below $1000 for the first time since its meteoric rise in 2021, the year in which it gained 386%, almost $3,000. As of June 19, Ether trades at $961.30, and has seen continuous declines recently, falling 74.48% in the year to date, 52.35% in the last month alone, and 20.39% in just the last 5 days.

Ether (ETH) is the native cryptocurrency of Ethereum, a decentralized, open-source blockchain platform which offers smart contract functionality. It enables users to build decentralized financial applications, which allow access to traditional financial instruments outside any government’s sphere of control. Examples of DeFi platforms include MakerDAO, Compound, and Uniswap. Ethereum also allows users to create NFTs (non-fungible tokens).