In comparison with BTC, Ethereum’s value is falling sharply as the altcoin trades at levels last seen in October 2021.
In the past 24 hours, many Altcoins have been bleeding out as the market has taken another leg down. Due to this, Bitcoin’s dominance has spiked to levels not seen since last year.
- Bitcoin’s price relative to Ethereum has fallen to its lowest level since last year.
- Right now, ETH trades for around 0.0629 BTC. October 22nd, 2021 was the last time it was this low.
- ETH’s dollar price plunged 7% today, leaving over $86 million worth of liquidated positions.
- The most liquidated contracts over the past 24 hours were ETH contracts. ETH-USDT swap with a face value of $2.24 million was the largest liquidation order on OKEx.
- Ethereum’s decline comes in the wake of a broader market pullback during which altcoins are losing ground.
- Consequently, Bitcoin’s dominance increased considerably – the indicator of its share compared to the entire market. Currently, it has reached its highest level since October last year as well.