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The second largest cryptocurrency by market cap has suffered new losses today in a morning where all the major cryptos are in the red. ETH dropped down to $851.05 today, a loss of 5.04 percent, as of 9am on February 22. The market cap currently stands at $83.2 billion and some $2.2 billion was traded on exchanges over the past 24 hours. But why has the token fallen into the red today, February 21?

Why is Ethereum dropping today? The cryptocurrency largely held steady at around the $900 mark in February, apart from a drop to $585 on Feb 6 - recovering the following day. But today Ethereum dropped below the $900 mark again as all other cryptos also recorded losses. Ripple’s price dropped to £1.06 today, as of 8.20am on February 21, down 7.69 percent. Bitcoin was also down by -2.85 percent, recording a price of $11,175.70.

GETTY Ethereum price news: ETH is dropping today

GETTY Ethereum price news: All cryptos are in the red today