{"id":2252,"date":"2025-06-06T08:56:47","date_gmt":"2025-06-06T08:56:47","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-slides-lower-nearing-the-2400-mark\/"},"modified":"2025-06-06T08:56:47","modified_gmt":"2025-06-06T08:56:47","slug":"ethereum-price-slides-lower-nearing-the-2400-mark","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-slides-lower-nearing-the-2400-mark\/","title":{"rendered":"Ethereum price slides lower, nearing the $2,400 mark"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum plummets near the $2,400 mark as the Donald Trump and Elon Musk\u2019s fallout rocks the crypto market as more major tokens get dragged down.<\/p>\n<p>According to data from crypto.news, the Ethereum price has dropped nearly 6% in the past 24 hours of trading. The second-largest token by market cap has been seeing red in the past few hours, dropping from a peak of $2,634 to as low as $2,408.<\/p>\n<p>At press time, ETH (ETH) is trading hands at a price of $2,456, barely recovering from the sudden price drop at about 2:00 AM UTC. The recent Ethereum price dip has led to a sharp increase in trading activity for the token, with its daily trading volume rising by nearly 64% compared to the previous day of trading.<\/p>\n<p>In the past week, ETH has gone down by more than 6%, and even more so in the past two weeks. In the last 24 days, the token has fallen by 7.4%. <\/p>\n<p>Last month the token ignited optimism among traders hoping to see ETH jump towards the $3k mark, echoing Bitcoin (BTC)\u2019s leap to a new all-time high. Throughout May, the token experienced a rally that catapulted ETH up to $2,731 on May 29.<\/p>\n<p>Apparently ETH is not the only one suffering a decline. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\" target=\"_blank\">data<\/a> from CoinGecko, the total crypto market cap has fallen nearly 4% from $4.1 trillion on June 5 to $3.29 trillion on June 6. Similar to ETH, Bitcoin is currently down by 1.2%, trading hands at $103,438.<\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" class=\"wp-image-14386445\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">Ethereum price chart shows a drop in the past few hours of trading, June 6, 2025 | Source: crypto.news<\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Traders believe the fall began when ex-DOGE head and X owner Elon Musk resigned from his role and criticized the President\u2019s recent spending bill, dubbed the Big Beautiful Bill. In a move seen as retaliation, Donald Trump revoked Jared Isaacman\u2019s NASA nomination, a close associate of Musk.<\/p>\n<p>According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/Ethereum?chainFees=true\" target=\"_blank\">data<\/a> from DeFi Llama, Ethereum\u2019s total value locked has also suffered from the price drop, falling by nearly 4% to $59.9 billion. Although it is still ahead of Solana (SOL) in terms of TVL, with Solana\u2019s standing at only $8 billion, the ETH ecosystem has taken a harsher hit from the crypto market\u2019s current plunge.<\/p>\n<p>On the other hand, Ethereum\u2019s on-chain fees rose two-fold compared to the beginning of June. On June 6, ETH fees amounted to $2.26 million, rising more than 100% compared to $853,320 on June 1.<\/p>\n<p>Most recently, Ethereum co-founder Vitalik Buterin stated that while Ethereum has a stronghold in aspects like censorship resistance and security, he admitted that Bitcoin is still ahead of them in terms of other areas.<\/p>\n<p>He believes Bitcoin has an edge over Ethereum with regards to coding simplicity, less protocol changes, node count as well as its lesser dependency on remote procedure call services. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum plummets near the $2,400 mark as the Donald Trump and Elon Musk\u2019s fallout rocks the crypto market as more major tokens get dragged down. According to data from crypto.news,&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=2252"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2252\/revisions"}],"predecessor-version":[{"id":2254,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2252\/revisions\/2254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2253"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=2252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=2252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=2252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}