Ether fell below $2,300 on Oct. 24, extending a 28-day decline of 14.73% that outpaced bitcoin's drop. US ether ETFs recorded net outflows on Oct. 22, though the source does not tie them to the price move.
Ether fell below $2,300 on Oct. 24, reaching its lowest sampled price in 28 days. The decline of nearly 15% was substantially steeper than bitcoin's over the same period.
CoinGecko quoted ETH at $2,293.95 at 11:20 a.m. ET, below every hourly observation in its price history since noon ET on Sept. 26. The price then stood at about $2,296 at 11:34 a.m. ET. The low compares sampled provider quotes and is not an exchange-level intraday record.
Ether lags bitcoin over two windows
From noon ET on Sept. 26 to 11:34 a.m. ET on Oct. 24, ether fell 14.73%, compared with a 5.58% decline for bitcoin, according to The Defiant's calculations using CoinGecko prices. That left ETH holders trailing bitcoin by 9.15 percentage points. Ether started that window at about $2,692.
The gap also showed up over the shorter window that began at noon ET on Oct. 17. Ether lost 4.65%, while bitcoin fell 2.25%, a difference of 2.41 percentage points. Both comparisons use identical timestamps for the two assets, and they exclude staking rewards.
Ether ETFs record outflows
Fund flows offer a separate measure of demand. U.S. ether exchange-traded funds recorded $110.6 million in net outflows on Oct. 22, according to Farside Investors. Those redemptions do not establish the cause of Saturday's price decline.
Farside's Oct. 23 tally showed $4.4 million in net inflows, with the ETHV fund's entry still unreported.
Source: The Defiant
Trading involves risk.
Risk Disclaimer
