Ethereum Price Drop 5% In the Past 24hr – Here’s What’s the Reason
Reasons behind the drop in Ethereum price with a rise in Bitgert and Centcex prices
It appears like the bear market condition is creeping back, with most of the large cryptocurrencies already dropping over the past 24 hours. Among the most hit cryptocurrencies by the current bear, run is Ethereum.
According to the Coinmarketcap data, Ethereum has dropped 5% in the past 24 hours, making it one of the biggest losers today. This is at a time when we have other crypto coins, like Bitgert (BRISE), skyrocketing today. So the question is, why is the Ethereum price dropping? Read the reasons below, plus two of the coins skyrocketing today:
Ethereum coin performance in the past 24 hours has been plunging, yet the likes of Bitgert (BRISE) have been skyrocketing. In fact, the Ethereum coin has been plummeting for most of 2022. Even with the recent bull runs, the coin has been unable to achieve the new year’s eve price.
The reason why Ethereum has been dropping is due to the crashing crypto market. But there are a lot of other factors why it is dropping faster. The slow adoption of the Ethereum blockchain is another reason. The high gas fee and slow chain are why Ethereum is attracting fewer users.
But the team is working on the Ethereum network upgrades. With the ongoing upgrades, Ethereum is going to address scaling and gas costs to increase chain adoption. Therefore, the coin is projected to start its bull run soon after these upgrades are completed.
While Ethereum was crashing, Bitgert (BRISE) has grown bullish with an impressive +13% increase in the past 24 hours. This is not the first time the Bitgert price has skyrocketed when other cryptocurrencies have been plunging. The growth during the bearish shows a powerful project capable of withstanding even the toughest market.
Bitgert price increase has been driven by so many factors, including the revolutionary BRC20 blockchain. The Bitgert chain’s massive adoption has been the reason Brise coin price is doing so well. However, the multiple Bitgert Startup Studio backed projects are also fueling this growth.
Note that the Bitgert team has promised 100+ projects every month. The anticipated Bitgert roadmap V2 is bringing exciting products into the chain. So there are many factors skyrocketing Brise coin price today and are expected to keep the coin bullish this month.
Like Bitgert, Centcex is another cryptocurrency that is enjoying huge attention from the crypto community. There is something about the Centcex coin that keeps investors buying more even though it is yet to launch even a single product.
One of the things that stands out about Centcex projects is the massive number of products the team is building for this ecosystem. According to the information on the Centcex website, this is one of the projects working to deliver an unlimited number of products to its ecosystem.
This means Centcex might be one of the cryptocurrencies with massive adoption, which results in skyrocketing prices. The huge collection of products will also increase the staking revenue. These are factors making Centcex popular.
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