Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback<\/title>\n<meta name=\"description\" content=\"Ether fell to its lowest level in more than a year as altcoins took a greater beating. The second-largest cryptocurrency by market capitalization recently\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/ethereum\/eth-drops-below-1400\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback\" \/>\n<meta property=\"og:description\" content=\"Ether fell to its lowest level in more than a year as altcoins took a greater beating. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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{"id":492872,"date":"2022-06-13T06:44:55","date_gmt":"2022-06-13T06:44:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=492872"},"modified":"2022-06-13T06:44:55","modified_gmt":"2022-06-13T06:44:55","slug":"eth-drops-below-1400","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/eth-drops-below-1400\/","title":{"rendered":"Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback"},"content":{"rendered":"

Ether fell to its lowest level in more than a year as altcoins took a greater beating. The second-largest cryptocurrency by market capitalization recently traded for approximately $1,450, a decline of more than 15 percent since the weekend.<\/p>\n

At the time of writing, Ethereum is trading at $1,327.40, a decrease of 26.5 percent over the previous week. Monday’s Coingecko statistics shows\u00a0that ETH has lost over $200 in the last 24\u00a0hours and over $500 in the last week.<\/p>\n

Ether Market Cap Sheds $38 Billion In Three Days<\/h2>\n

Throughout most of the last 30\u00a0days, the price of ether hovered around $1,800. The second part of the week was a miserable one for Ethereum, with its market capitalization falling by almost $38 billion in the last three days.<\/p>\n

The overall market capitalization of cryptocurrencies has been trading in a downward\u00a0trajectory\u00a0for the past month and is currently supported at $1.17 trillion.<\/p>\n

The cryptocurrency market lost more than $100 billion over the weekend after Treasury Secretary Janet Yellen offered a gloomy crypto forecast.<\/p>\n

Friday, crypto prices fell in tandem with the S&P 500 and Nasdaq, both of which were down 2.9% and 3.5%, respectively. Next week’s two-day Federal Reserve meeting is anticipated to result in additional interest rate increases.<\/p>\n

The losses of cryptocurrencies mirrored those of the equities markets, which dropped on Friday after the latest Consumer Price Index increased to 8.6 percent yearly, a more than 40-year high that showed rising prices will persist for some time.<\/p>\n

<\/p>\n

ETH total market cap at $161 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\nSuggested Reading |\u00a0Dogecoin Mining Revenue Massively Fell In Past 12 Months<\/a><\/em><\/strong><\/p>\n
‘Difficulty Bomb’ Drags Down ETH<\/h2>\nThe announcement that core developers have delayed the implementation of the so-called “difficulty bomb” resulted in a further decline of about 8.0 percent for Ethereum on Saturday, following a decline of roughly 7.0 percent on Friday.<\/p>\n
Despite this week’s successful deployment of the merging on the Ropsten Testnet, Ethereum developers have opted to delay the bomb.<\/p>\n
The Ethereum difficulty bomb is a unique piece of code that makes it significantly more difficult for miners to validate transactions on the blockchain and earn a reward via the proof-of-work consensus mechanism.<\/p>\n
It has been incorporated into Ethereum in order to gradually eliminate mining on the chain as it switches to PoS.<\/p>\n
According to technical indicators, the Ethereum price is exhibiting a falling triangle pattern, which might result in a near-term decline to as low as $1,200.<\/p>\nFeatured image from Chemistry World, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"Ether fell to its lowest level in more than a year as altcoins took a greater beating. The second-largest cryptocurrency by market capitalization recently traded for approximately $1,450, a decline of more than 15 percent since the weekend. At the time of writing, Ethereum is trading at $1,327.40, a decrease of 26.5 percent over the previous week. Monday’s Coingecko statistics shows\u00a0that ETH has lost over $200 in the last 24\u00a0hours and over $500 in the last week. Ether Market Cap Sheds $38 Billion In Three Days Throughout most of the last 30\u00a0days, the price of ether hovered around $1,800. The second part of the week was a miserable one for Ethereum, with its market capitalization falling by almost $38 billion in the last three days. Suggested Reading |\u00a0Bitcoin Takes A Beating At $27K As Crypto Economy Settles Just Above $1 Trillion The overall market capitalization of cryptocurrencies has been trading in a downward\u00a0trajectory\u00a0for the past month and is currently supported at $1.17 trillion. The cryptocurrency market lost more than $100 billion over the weekend after Treasury Secretary Janet Yellen offered a gloomy crypto forecast. Friday, crypto prices fell in tandem with the S&P 500 and Nasdaq, both of which were down 2.9% and 3.5%, respectively. Next week’s two-day Federal Reserve meeting is anticipated to result in additional interest rate increases. The losses of cryptocurrencies mirrored those of the equities markets, which dropped on Friday after the latest Consumer Price Index increased to 8.6 percent yearly, a more than 40-year high that showed rising prices will persist for some time. ETH total market cap at $161 billion on the daily chart | Source: TradingView.com Suggested Reading |\u00a0Dogecoin Mining Revenue Massively Fell In Past 12 Months ‘Difficulty Bomb’ Drags Down ETH The announcement that core developers have delayed the implementation of the so-called “difficulty bomb” resulted in a further decline of about 8.0 percent for Ethereum on Saturday, following a decline of roughly 7.0 percent on Friday. Despite this week’s successful deployment of the merging on the Ropsten Testnet, Ethereum developers have opted to delay the bomb. The Ethereum difficulty bomb is a unique piece of code that makes it significantly more difficult for miners to validate transactions on the blockchain and earn a reward via the proof-of-work consensus mechanism. It has been incorporated into Ethereum in order to gradually eliminate mining on the chain as it switches to PoS. According to technical indicators, the Ethereum price is exhibiting a falling triangle pattern, which might result in a near-term decline to as low as $1,200. Featured image from Chemistry World, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":492874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[6664,17300,8323,4854,1946],"class_list":["post-492872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-crypto","tag-difficulty-bomb","tag-eth","tag-ether","tag-ethereum"],"acf":[],"yoast_head":"\nEther Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback<\/title>\n<meta name=\"description\" content=\"Ether fell to its lowest level in more than a year as altcoins took a greater beating. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback","url":"http:\/\/ktsl888.com\/news\/ethereum\/eth-drops-below-1400\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/eth-drops-below-1400\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/ETH.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/ETH.jpg?fit=2000%2C1334"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","difficulty bomb","eth","ether","ethereum"],"dateCreated":"2022-06-13T06:44:55Z","datePublished":"2022-06-13T06:44:55Z","dateModified":"2022-06-13T06:44:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/eth-drops-below-1400\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/eth-drops-below-1400\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/ETH.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/ETH.jpg?fit=2000%2C1334\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"difficulty bomb\",\"eth\",\"ether\",\"ethereum\"],\"dateCreated\":\"2022-06-13T06:44:55Z\",\"datePublished\":\"2022-06-13T06:44:55Z\",\"dateModified\":\"2022-06-13T06:44:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/ETH.jpg?fit=2000%2C1334","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/492872"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=492872"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/492872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/492874"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=492872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=492872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=492872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}