ETH (Ethereum) has fallen 3.78% in the last 24 hours, with a current market capitalization of 365.3 billion USD.

Gate News Bot news, on November 18, according to CoinMarketCap, as of the time of writing, ETH (Ethereum) is currently priced at $3026.67, falling by 3.78% in the last 24 hours, with a high of $3586.01 and a low of $2957.31. The 24-hour volume reached $42.63 billion. The current market capitalization is approximately $365.307 billion, a decrease of about $14.351 billion from yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides the infrastructure for decentralized applications ( DApps ) and smart contracts, supporting application development in various fields such as finance, gaming, and social networking. The Ethereum ecosystem has the largest developer community, driving innovation and application of Web3 and blockchain technology.

Important recent news about ETH:

1️⃣ Vitalik emphasizes the decentralized philosophy of Ethereum Ethereum co-founder Vitalik Buterin clearly stated at the Devconnect conference that Ethereum represents the idea of decentralization and a commitment to not do harm, which is in stark contrast to the centralized exchange FTX. This once again highlights Ethereum's adherence to its core values of decentralization and community-driven principles, helping to enhance investor confidence.

2️⃣ Singapore Exchange is about to launch ETH perpetual contracts The Singapore Exchange announced that it will launch Bitcoin and Ethereum perpetual futures contracts on November 24, exclusively for qualified institutional investors. This marks a further increase in the acceptance of crypto assets by traditional financial institutions, and is expected to attract more institutional funds into the ETH market.

3️⃣ ETH continues to face large-scale selling pressure Multiple ETH ETF products have seen significant net outflows, with BlackRock alone experiencing an outflow of 54,730 ETH. At the same time, some large holding institutions, such as Bitmine, have reported paper losses on their ETH holdings. These factors may be the main reasons for the recent fall in ETH prices.

From a technical perspective, the ETH price has fallen below the critical support level of 3000 USD, and it may continue to show weakness in the short term. However, the fundamentals of Ethereum remain solid, and its ecosystem is continuously developing, indicating that long-term investment value still exists.

This message does not constitute investment advice; investment should consider market volatility risks.