The second-largest cryptocurrency by market cap, Ethereum, continues to show its significant role in the crypto ecosystem. On July 5th, 2023, the crypto asset traded at an average price of $1,905.61, demonstrating the ever-changing dynamics of the market.
In the last 24 hours, Ethereum’s price fluctuated between a low of $1,897.04 and a high of $1,963.25. Reflecting on the 7-day period, Ethereum hit a low of $1,827.22 and a high of $1,967.97, pointing to the continuous ebb and flow of its market valuation.
Trading volume over the past 24 hours for Ethereum stood at an impressive $7.86 billion, underscoring the high interest in Ethereum’s platform and the broader DeFi (Decentralized Finance) ecosystem it supports. The market capitalization of Ethereum on this date was about $229.13 billion, securing its place as the second largest cryptocurrency.
Ethereum commands a respectable 18.593% dominance in the overall cryptocurrency market cap, reflecting its crucial role in the crypto landscape. Its volume to market cap ratio of 0.0311 highlights the robust trading activity surrounding this digital asset.
While Ethereum has seen a considerable drop of 61.02% from its all-time high of $4,878.26 over a year ago, the crypto’s journey from its all-time low of $0.432979 more than seven years ago is staggering, with a growth of approximately 439,024.63%.
In summary, Ethereum’s daily price analysis for July 5th, 2023, underlines the cryptocurrency’s key role in the digital asset market. Despite the reduced price levels compared to its historical peak, Ethereum remains a highly traded asset, driving significant activity in the broader crypto and DeFi ecosystems.
As with all investment assets, due diligence is recommended before engaging in trading activities. This daily price analysis aims to provide a general overview and is not intended as financial advice. Cryptocurrencies, including Ethereum, carry risk, and prospective traders should be aware of these.
