Ethereum (ETH) has faced a tumultuous week, with its price plummeting by a staggering 60% to $2,127 on August 5, 2024. This sharp decline represents a significant low for Ethereum in 2024, driven by a combination of market factors and large-scale sell-offs by major traders. As Ethereum grapples with these challenges, the question remains: can ETH rebound and regain its previous highs?·
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