Ethereum dropped with around 3%. Cryptocurrency fall to $1778. Against bitcoin. Ethereum continue dropping
Maybe the potential reasons is their gas fee, it's becoming crazy and I seen that most traders is avoiding several erc20 tokens right now and they were trap due to higher transaction rate. This is not a good sighs of the drop continuously happening, and believed right now all holders was shifting to another platforms like btc or tron.
Gas fees should not be the reason but bitcoin is. Did you aware if bitcoin was also dropping a bit too from its weekly position? that makes sense if another crypto other than bitcoin will get the same correction like bitcoin.
People are only seeing it based on the price without trying to analyze what the main thing that has been making ethereum gets dropped a bit.
here's the trend. Bitcoin goes down and altcoins too.