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Ether Turns Negative For the Year as Crypto Sell-Off Accelerates

  • The second-largest coin is down more than 1% for the year
  • Scalability, increased competition have put pressure on Ether
Photographer: SeongJoon Cho/Bloomberg

Ether, the second-largest cryptocurrency, extended a three-day losing streak to turn lower for the year, bucking an uptrend set by most other major digital assets.

Since the beginning of November, the coin has spent 64% of its days lower, according to data compiled by Bloomberg. It is down close to 1.3% for the year after more than doubling at one point.