Cryptocurrency

Ethereum declines after marking largest daily profit in a month

2018-09-14 13:33:54 GMT (Economies.com)

Ethereum fell on Friday after a hiatus from losses yesterday, with prices still holding above $200.  

 

At Bitstamp, Ethereum shed $3, or 1.4% to $208, with an intraday high at $223, and a low at $202. 

 

Ethereum spiked 16% yesterday, the largest profit since August 17 away from 14-month lows at $167. 

 

Market value of cryptocurrencies fell a billion dollars to $198 billion, after hitting $186 billion on Wednesday, the lowest since November 2017. 

 

The Ethereum network co-founder Vitalik Buterin responded to criticism on the steep decline of his product and the non-relevance of the network by noting that while it's unlikely for the sector to witness another 1000 fold increase, he still believes in its future as more companies and individuals use cryptocurrencies for transactions. 

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