Ethereum, Bitcoin lead cryptocurrencies lower as selling continues
Investing.com - Prices of both Ethereum and Bitcoin extended their recent decline on Tuesday, remaining under pressure as investors appeared to take profit on the recent rally that has seen it touch record highs.
Ethereum prices dropped by as much as 18% on the U.S.-based GDAX exchange operated by Coinbase to a low of $206.50. It was last at $237.85 by 5:05AM ET (0905GMT), down $14.50, or around 6%.
Last week Ethereum plunged to as low as 10 cents from around $317 in a matter of seconds in an apparent flash crash.
The digital currency is down roughly 40% over the past two weeks. It remains up over 2,000% so far for the year.
Meanwhile, Bitcoin continued to struggle as investors remained wary of initiating large position amid several warnings from analysts that the digital currency has peaked since hitting $3,000 earlier this month.
The cryptocurrency was at $2,375.30 in early trade, down about 3.5%.
Despite recent losses, the digital currency is up more 150% for the year.
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