Why is Ethereum (ETH) price down today?


Ether (ETH) price is down on March 10, reaching a monthly low of $1,379 after New York Attorney General Letitia James alleged in a lawsuit against major crypto exchange KuCoin for not registering securities while maintaining that Ether is a security under the law.

Ether price was dealt another blow when Silicon Valley Bank stock lost $80 billion on March 9 and was subsequently closed by the FDIC on March 10. This is one day after Silvergate Capital (NYSE:SI) Corporation decided to voluntarily liquidate Silvergate Bank.

Ethereum long liquidations. Source: GlassnodeEthereum ecosystem total value locked. Source: DeFiLlamaEthereum exchange netflow. Source: CryptoQuantInterest rate probability. CME Group (NASDAQ:CME)


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