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.
Source: TradingView ETH/USD
As observed, ETH has …
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