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Ethereum rebounds after threatening drop below $170

Nicholas Marinoff


Ethereum (ETH), the second-largest cryptocurrency by market cap and the primary competitor to bitcoin, is currently trading for around $177 per coin, according to Messari

This marks a $4 per token jump in the past 24 hours, as nearly the entire crypto market sees green.

Nearly all of the top 20 cryptocurrencies by market cap incurred gains today, ranging anywhere between 0.05 and 10 percent. Ethereum increased nearly 2.5 percent since yesterday in a welcomed shift for ETH holders. Yesterday, ETH looked like it might drop below $170 for the first time in weeks.

But the month has not been particularly kind to Ethereum. Data suggests that the highest point for Ethereum over the last 30 days occurred on September 20, with the cryptocurrency surpassing the $220 mark for the first time since early August.