3 Reasons Why Ethereum Is Tanking Today
Ethereum (CRYPTO: ETH) is among the most closely watched cryptocurrencies in the market, and for good reason. The world's second-most valuable token, Ethereum's price action means a great deal for the overall market. Today, Ethereum is seeing strong selling pressure, now down 5.6% over the past 24 hours, as of 2:45 p.m. ET.
This move appears to be both a key driver of the crypto market's 3.1% decline over the same time frame, and a reflection of increasingly bearish sentiment among investors over the past day. The stock market has also declined considerably, with the S&P 500 now down more than 1% at the time of writing. These moves reflect broader concerns that risks may be piling up heading into what could be a volatile election season.
Now, despite these broader risks, there are some very specific risks to Ethereum that I think investors may want to pay attention to right now. Here are three key factors that appear to be impacting this token today.
Source Fool.com
