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Benzinga
Benzinga
Business
Simran Alphonso

Ethereum Down 6%, Support At $1,000 Can Fall

Ethereum Crypto

Ethereum (CRYPTO: ETH), the second largest cryptocurrency by market cap, is down 7% in the past 24 hours after recovering as much as 30% in recent weeks.

The DeFi contagion — a slang used for crashing domino effect on DeFi products — has shortened ETH's recovery as the token now trades more than 70% below its record high with further signs of decline. 

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