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Ether Prices Plunge To 7-Month Low
Ether prices dove to a seven-month low earlier today.
Ether (ETH) prices struck a seven-month low on 2nd December, extending the losses suffered earlier in the week. ETH fell to as little as $7.60 at 15:55 UTC, according to Poloniex figures. The last time the price dropped to this level was in late April.
STORY CONTINUES BELOW
The price of ether – the cryptocurrency of the ethereum network – managed to recover later in the session, reaching $7.88 at 17:10 UTC, additional Poloniex data reveals. In spite of this improvement, ETH followed a steady, downward movement during the day, peaking when it opened the session at $8.40.
Ether prices have been encountering headwinds recently as their platform has dealt with a series of technical challenges. The ethereum network has undergone a series of forks, the latest of which was unintentional and resulted in the network being split between two transaction histories for a brief period of time.
Since the Thanksgiving fork, ethereum developers say they have moved to improve existing practices in order to prevent a similar situation from occurring.
Image via Shutterstock
Charles Lloyd Bovaird II
Charles Lloyd Bovaird II is a financial writer and editor with strong knowledge of asset markets and investing concepts. He has worked for financial institutions including State Street, Moody's Analytics and Citizens Commercial Banking. An author of over 1,000 publications, his work has appeared in Forbes, Fortune, Business Insider, Washington Post, Investopedia and elsewhere. An advocate of financial literacy, Charles created all the industrial finance training for a company with more than 300 people and spoke at industry events across the world. In addition, he delivered speeches on financial literacy for Mensa and Boston Rotaract.
