Ethereum (ETH) Price Tumbles Over 6%, Market Uncertainty Prevails

Ethereum (ETH) has experienced a sharp 6.79% decline in the past 24 hours, with its price dropping to $2,943.31. The price drop is largely attributed to delays

Cryptocurrency prices experienced significant fluctuations on Friday, with several major coins facing steep declines.

According to data from Coinglass, a total of 221,704 traders were liquidated in the past 24 hours, amounting to $629.24 million in losses. The largest single liquidation order was recorded on Binance in the ETH/USDT trading pair, valued at $18.48 million.

Here's a closer look at the price movements and impacting factors:

1. Ethereum (ETH) Price Drops Over 6% Amidst ETF Delay:

ETH price declined by 6.79% in the past 24 hours, bringing its price down to $2,943.31. This drop is largely attributed to delays in the approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).

2. BNB Price Faces Steep Decline:

BNB, the native token of Binance, saw a significant 7.62% drop in the last 24 hours, with its price falling to $485.20. This decline is primarily due to ongoing regulatory scrutiny faced by Binance in multiple jurisdictions.

3. XRP Price Falls as Legal Battle Persists:

XRP price experienced a 7.69% decrease, bringing its price down to $0.4176. This price drop is closely linked to the ongoing legal battle between Ripple and the SEC.

4. Toncoin Price Dips Despite Positive Integration News:

Toncoin (TON) price saw a 4.61% decrease to $6.96. This drop can be attributed to general market volatility, which tends to affect newer cryptocurrencies more significantly.

5. Cardano Price Drops Double-Digit Amidst Market Pressures:

Cardano (ADA) price dropped by 10.91% in the past 24 hours, bringing its price down to $0.3477. Broader market conditions and competitive pressures from other blockchain platforms influenced ADA price negatively.

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