Ethereum’s Price Dip and Market Performance

Ethereum’s price took a 2.6% dip against the U.S. dollar on Friday, following bitcoin’s overnight decline. While bitcoin’s weekly loss stands at 0.7%, ether exhibited resilience with a 2% weekly gain.

Ethereum Holds Steady at $3,650 After Recent Dip

As of the latest update, bitcoin constitutes 60.8% of the $3.82 trillion crypto market, while ether represents 11.6%. Despite a slight decrease in market share, ether’s current stake is still higher than 11.1% from the previous week.

With a market cap of $441 billion, Ethereum fluctuated between $3,585 and $3,750 in the last 24 hours. Its 24-hour trading volume was robust at $90.55 billion, following bitcoin’s $103.78 billion.

After reaching a high of $3,750, ETH dropped to a low of $3,585 but quickly recovered to $3,602 within ten minutes. As of 3:45 p.m. ET on Friday, ether was trading at approximately $3,653. Binance was the leading exchange for ETH trading activity today.

In the realm of crypto derivatives, $114.14 million in ETH positions were liquidated over the past day, including $82.18 million in short positions. This made ETH the second-highest for daily liquidations, following bitcoin, and outperforming SOL’s $40 million in leveraged losses. Notably, an ETH/USD long position on Binance was liquidated for a loss of $30,000 at 3:36 p.m. ET.

Despite market volatility, Ethereum has shown resilience, maintaining a modest weekly gain. As traders navigate the unpredictable crypto landscape, ether’s market position and trading volume imply a bright outlook, possibly challenging bitcoin’s dominance in the digital economy.