Ethereum falls for third consecutive day on weak demand levels

Ethereum fell by more than 1% in spot trading today, continuing its losses for the third day in a row, due to weak investment demand levels on the world's second-largest cryptocurrency, as prices could quickly drop below the $150 barrier if the recovery of the Bitcoin stops.

As of 13:40 GMT, in Bitstamp, Ethereum is trading around $163.66, down by $1.83, or 1.1% from the opening price of $165.49, with the highest at $166.33 and the lowest at $161.59.

Ethereum lost 2.8% yesterday, in its second consecutive daily losses, due to weak demand levels, and after the drop in Bitcoin from the highest level in six months.

The total market value of cryptocurrencies on Thursday fell by about $1 billion to $176 billion, with a slight decline in most major currencies prices in the market.

Tuesday's market value was $186 billion, which is the highest level since November.

The world's second-largest cryptocurrency continues its decline for the third consecutive day due weak investment demand levels during the current period, and investors' focus on the world's largest cryptocurrency, Bitcoin.

And if the rise of the Bitcoin stopped, which led the recent wave of recovery in the crypto market in first place, Price of Ethereum is expected to quickly drop from $160 to $150.

South Korea's Samsung Electronics is currently developing an Ethereum-based blockchain along with its own cryptocurrency called Samsung Coin.

As companies around the world are tapping into the encryption industry, Société Générale Bank is working on improving the health and portability of bond issues through the blockchain. While the French bank has issued 100 million euro bonds as a security token for the Ethereum blockchain.