Why Ethereum Classic Is Nosediving Again Today

Shares of several popular altcoins, including Ethereum Classic ETC/USD, are trading lower again Monday in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto Ethereum ETH/USD. 

Crypto is likely trading lower in tandem with major U.S. indices, which are lower following worse-than-expected May CPI data. Rising inflation has caused economic concerns and has also raised expectations for further Fed policy tightening.

Bitcoin, the world's oldest cryptocurrency, fell to its lowest levels since the end of 2020 on Monday. The crypto market seems to be falling amid a selloff in broader risk assets after traditional markets traded sharply lower last week in the wake of runaway inflation data... Read More

According to data from Benzinga Pro, Ethereum Classic is trading lower by 8.87% to $14.30 Monday evening. Ethereum Classic is lower by 30.98% over the trailing month amid ongoing weakness in the broader cryptocurrency market.

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