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<a href="https://optimisus.com/news/crypto-news/blackrocks-ethereum-etf-launch-sees-over-260-million-in-inflows/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> declined by over 7% throughout the last 24 hours, while the entire cryptocurrency market decreased by over 4%. This drop is attributed to investors evaluating the consequences of Mt. Gox's recent transactions and broader economic events.  
At the time of writing, the value of Ether was around $3,185, reflecting a decrease of 7.9% in the past 24 hours. At the time of writing, the value of Bitcoin had decreased by 2.56% and is currently trading at $64,161.  
Justin d'Anethan, the head of APAC business development at Keyrock, a market maker in the crypto industry, stated to The Block that the significant decline is not only predictable but anticipated.  
He stated that numerous speculators are closing their trades as a result of the excitement generated by the spot ETF applications, as well as the acceptance and subsequent trading, which has led to a significant increase in activity where individuals are essentially attempting to anticipate the event. According to crypto analysts, the price change seems to be a regular occurrence known as a "sell-the-news" event, which is frequently observed in the crypto market.  
On the other hand, Solana (SOL), the 'Ethereum killer', remained very strong. Solana has even surpassed&nbsp;<a href="https://optimisus.com/news/crypto-news/the-us-sec-approves-the-first-ever-ethereum-etf-marking-a-major-milestone/" rel="noopener noreferrer nofollow">Ethereum</a>&nbsp;and BNB Chain in decentralized exchange (DEX) volume, representing over 37% of total DEX traffic. According to data, this surge in value is attributed to growing confidence in the&nbsp;<a href="https://optimisus.com/press-releases/solana-and-dogecoin-rise-in-crypto-market-alongside-pawfurys-promising-presale/" rel="noopener noreferrer nofollow">Solana network</a>, as its total value locked (TVL) has surpassed levels seen before the 2022 bearish market. 
The post <a href="https://optimisus.com/news/crypto-news/ethereum-eth-declined-by-over-7-throughout-the-last-24-hours-while-the-entire-cryptocurrency-market-decreased-by-over-4/" rel="noopener noreferrer nofollow">Ethereum (ETH) price falls by over 7%, while the overall crypto market was down nearly 4%</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Ethereum (ETH) price falls by over 7%, while the overall crypto market was down nearly 4%

Optimisus

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