Ethereum falls to 2-months low amid market sell-off

Ethereum fell on Monday to continue its losses for the third day in a row, approaching the two-month low recorded earlier in the day, as a amid market sell-off, especially after criticism from highest political and financial authorities in the United States on the crypto industry and the future Facebook currency "Libra".

As of 10:33 GMT, at the Bitstamp Stock Exchange, Ethereum is trading around $223.45, down by $2.8 or by 1.2%, from the opening price of $226.25, with a high of $228.90 and a low of $202.27.

Ethereum lost 16% on Sunday, its second consecutive daily loss, and the biggest daily loss since February 24, recording a two-month low of $191.91.

Over the past week, ethereum has lost 26.5%, the second weekly loss in the past three weeks, and the biggest weekly loss this year.

The market value of cryptocurrencies on Monday fell by more than $20 billion to a total of $270 billion, the lowest level since June 14, with most of the major currency prices falling in the market.

Yesterday the market fell below the $300 mark billion again, with clear activity for open sales, to lose about $117 billion since it posted a total of $387 billion on June 26, the highest level in more than a year.

The sell-off phase has dominated the crypto market since the middle of last week, after the attacks by the highest political and financial authorities in the United States on the crypto industry and the upcoming Facebook currency "Libra."

US President Donald Trump launched a sharp attack on the crypto industry, Bitcoin and Libra, following another an attack by US Federal Reserve Chairman Jerome Powell during his semi-annual testimony before the US Congress on Facebook's future currency.

This successive attack by the highest political and financial authorities of the United States, is not a coincidence, as it comes before the US Congress to hold a meetings on the digital Facebook project, which is scheduled to be held on Tuesday and Wednesday, July 16-1