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The exchange rate of the ether-US dollar (ETH / USD) fell to $275, which is the lowest since September 23, according to available market data. At present, the cryptocurrency is traiding about $285.
According to CoinMarketCap, the cryptocurrency, which manages the ethereum blockchain, has lost about 3.3 percent in the last 24 hours of trading.
Week-on-week, ETH fell 14.97 percent, while it is trading mostly unchanged on a monthly basis. Nevertheless, the development is noteworthy in that it contrasts with the meteoric performance of the ether during the first half of the year, during which it was suggested that it could even transmit bitcoin in terms of overall market capitalization.
Ether prices reached a record level of $400 before China switched to ban on financing model of the initial coin offering (ICO) in early September. Markets may not have recovered from this blow, given that ethereum serves as a platform for decentralized application development and funding through ICOs.
While bitcoin prices were badly affected by the banning of ICO and the termination of the exchange in China, it eventually raised more than 100 percent from the September 15 low of $2,980 for record highs above $6,100.
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