Ethereum Plummets 10%, Erasing Seven Years of Gains – Market Analysis

Ethereum experienced a dramatic price decline over the past 24 hours, plummeting more than 10% and reaching levels last seen in 2018. The cryptocurrency, currently trading at under $1,400, marks a significant blow to investors who have witnessed its value erasing seven years of gains. The drop was likely triggered by global trade tariffs imposed by Donald Trump on April 9th. The current downturn also coincides with a broader market slump in the crypto sector. Analyst James Check noted that Bitcoin has outperformed Ethereum for 85% of trading days since its launch, suggesting a trend of potential dominance from Bitcoin.