Ethereum Falls More Than Bitcoin As China Steps Ban On Cryptocurrencies, ETH / BTC By 3-Week Low By Cointelegraph

Ethereum falls more than Bitcoin as China steps up cryptocurrency ban, ETH / BTC in a 3-week low

The price of the native token Ether (ETH) fell on Friday after China extended its crackdown on cryptocurrencies, deeming their transactions “illegal.”

“Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” said the People’s Bank of China. said in a statement on its website on Friday, adding that online encryption services to Chinese residents offered by overseas exchanges are also “illegal financial activities.”

daily price chart. Source:
daily price chart. Source:
The total value invested in the Ethereum PoS smart contract has increased from 11,616 ETH to 7.76 million ETH in nine months. Source: CryptoQuant

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