Ethereum relinquishes $300 for first time in 11 months

Ethereum fell on Tuesday for the second day in a row after giving up the psychological support of $300, marking 11-month lows as most cryptocurrencies swoon on strong selling pressures amid US regulatory concerns. 

At Bitstamp, Ethereum fell $21, or 7.4% to $262, with a session-high at $284, and the lowest since September 2017 at $250. 

Ethereum slumped 11% on Monday, the third loss in four days, amid mounting pressures on crypto assets and dissipating demand for the world's second biggest cryptocurrency.

Ethereum slumped 22.1% last week, the second weekly loss in a row. 

Market value of cryptocurrencies fell $14 billion on Tuesday to $190 billion, the lowest since November 2, 2017. 

Cryptocurrencies lost over $645 billion of value since January when they reached the pinnacle of $835 billion, with that surge in prices back then proving to be a mere bubble that burst in later months.