Ethereum declines amid strong correction

Markets 7/16/2017, 9:08 AM
Ethereum declines amid strong correction

Ethereum decreased in value on Sunday and hit a daily low of $155.10 as traders watch bitcoin which is experiencing increased volatility as the bitcoin community is deciding how to solve the problem of an increased number of transactions.

With the bitcoin network going through a number of changes, including Rootstock (RSK) which aims to enable smart contracts on the platform, Ethereum is in for a big challenge. Earlier this year, RSK raised $3.5 million in funding to help it start a bitcoin smart contract testnet.

Ethereum lost 5.31% at 9:05 am CET and it went for $159.65. The cryptocurrency is down 32.32% for the week. 

TeleTrader Newsroom / VP



Chart for: ETH/USD