Ethereum [ETH] falls into the bear trap, becomes biggest loser among top 5 cryptocurrencies after BCH -AMBCrypto

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The market opened today, 29th September, to most of the cryptocurrencies seeing red, indicating a polar shift from yesterday when most of the coins were on a rise. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP were all sliding, indicating the strengthening of the bear’s grasp.

At the time of writing, Ethereum [ETH] was falling at a rate of 5.82% with a total market cap of $22.179 billion. The cryptocurrency was trading for $216.91 with a 24-hour market volume of $1.888 billion. Ethereum has lost its strong lead in terms of market cap with XRP with the difference falling to $997 million.

The cryptocurrency had fallen from a height of 231.27 which it held yesterday after which the bears pull bought it down to its current hold of $216.91. Most of the Ethereum trade volume was held by Binance with a majority of 5.94%. The total volume on the exchange amounted to $130.06 million which was closely followed by Bitfinex’s $97.44 million.

Ethereum was also in the news recently when the cryptocurrency supported Opera Labs was launched for desktops as a beta version. The browser also includes a cryptocurrency wallet feature, a move aimed to push cryptocurrencies into the realm of mainstream adoption.

Charles Hammel, the Product Lead if Opera Crypto had earlier stated:

“Having a Crypto Wallet in the browser brings the cash experience to the world of online payments. Paying with the Crypto Wallet is like sending digital cash straight from your phone, and we’ve just made it easier. This opens up new possibilities for merchants and content creators alike.”

Ethereum was also bought up in conversation by Justin Sun, the Founder of Tron Foundation who asked users to switch to the Tron Network from the Ethereum network. His tweet read:

“Yes! Please stop deploying d-apps to Ethereum and migrate to #TRON network immediately! We are 100x faster than #ETH and fully compatible with #ethereum. We 100% guarantee better user experience!”