The price of Ethereum has dropped to a new low of $110.37 before stabilizing at lower ground. The plunge sets a new low for 2019, the lowest price since December 22nd.
ETH/USD is down from a daily high of $117.48, falling around 5% as the choppy move continues.
Other cryptocurrencies are dropping as well. Bitcoin fell below the $3,500 mark. Ripple slipped to the $0.30 handle.
There is no immediate fundamental trigger for the rapid move which is gradually reversing. Volatility in crypto markets has been meager in recent days but seems to be rising now.
More: Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Good things happen to those who wait
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