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Ether Drops Below $400 to Hit Lowest Price Since November
The price of ether, the cryptocurrency of the ethereum network, fell below $400 on Thursday for the first time since November.
By Stan Higgins
Updated Sep 14, 2021, 1:54 p.m. Published Mar 29, 2018, 9:31 p.m.
The price of ether, the cryptocurrency of the ethereum network, fell below $400 on Thursday for the first time since November.
Ether hit a low of $387.85, according to CoinDesk data, and as of press time is trading at roughly $394. On GDAX, the cryptocurrency exchange operated by startup Coinbase, ETH is currently trading at around $392.
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The cryptocurrency's price hasn't been below the $400 level since November 23, according to data from CoinMarketCap. At the time, the price had nearly reached an all-time high and would go on to surpass $1,200 as the broader cryptocurrency market shot to its peak.
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As previously reported, ether is one of several major cryptocurrencies to take a hit during Thursday's trading session. Others in the top-10 cryptocurrencies by market capitalization, including bitcoin cash and Ripple's XRP token, also hit lows for 2018.
Ether isn't the only cryptocurrency to see significant moves in today's session. In the last hour, bitcoin's price dropped to a low of $7,016.53, according to the Bitcoin Price Index (BPI), only to leap back to $7,165.26 as of press time.
Graph via CoinDesk BPI; Drop tower image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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