ETH price drops below $1600 as crypto market cap crashes 6%
Ethereum has taken a proper beating. It just crashed below $1,600, currently sitting around $1,569 after dropping over 13% in the past 24 hours. But it’s not just ETH. The entire crypto market is bleeding. The global crypto market cap is down by more than 6% in a day, now at $2.51 trillion. That’s about $160 billion wiped out.
What’s wild is that Ethereum’s 24-hour trading volume has surged nearly 300%. That kind of spike usually screams panic — people rushing to sell, whales making big moves, the works. Ethereum’s market cap is about $189.58 billion. ETH had been holding that $1,700 to $1,800 zone for a while, just moving sideways. Nothing crazy but stable enough.
The funny thing is, just five days back, there was actual…
