Ethereum (ETH) is currently $1,647.82 USD, down 0.43% in the last 24 hours. The 24-hour trading volume is $4,328,269,860 USD. ETH has a market capitalization of $198,096,864,637 USD, making it the #2 cryptocurrency by market cap.

There are a few reasons why ETH is down today. First, the Federal Reserve's hawkish tone on interest rates has weighed on risk assets, including cryptocurrencies. Second, there has been some profit-taking in ETH after a strong run-up in prices in recent months. Finally, some investors are waiting to see how the Merge, Ethereum's transition to a proof-of-stake consensus mechanism, will go before investing more heavily in the cryptocurrency.

Despite the recent decline, ETH is still up significantly from its price a year ago. In August 2022, ETH was trading at around $2,800 USD. The long-term outlook for ETH is positive, as the cryptocurrency is still seen as a leader in the blockchain space. However, the short-term price movements of ETH can be volatile, so it is important to do your own research before investing.

Here are some other factors that could affect the price of ETH in the near future:

The overall performance of the cryptocurrency market

The progress of the Merge

Any new developments or adoption of Ethereum by businesses or institutions

Regulatory news and events

If you are interested in investing in ETH, it is important to do your own research and understand the risks involved. Cryptocurrencies are a volatile asset class, and your investment could go down as well as up. $ETH