Ethereum Crashes 20%, Doge Keeps Gains

ethereum crashes april 18 2021

Ethereum has lost $500 overnight, falling from $2,560 to a current price of $2080 at the time of writing. The currency fell in concert with bitcoin, which dropped by $10,000 within an hour, down to $51,000 before somewhat recovering to $54,000 due to some mining farms closing down in China temporarily. It is believed ethereum miners are affected as well, although it is not currently showing in ethereum’s hashrate chart. Local sources say the power outage involves eth mining machines, which have been turned off now following a safety inspection due to an incident in a coal mine. Despite some farms opening in the United States and Europe, China remains dominant in ethereum mining, with it unclear whether this incident is directly affecting it price wise, or whether it is just following bitcoin. Otherwise eth was bullish as it experienced a protocol upgrade earlier in the week, with the currency…

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