Ether is about to register its first weekly loss for the first time since March as its price is in the red – a similar situation can be seen with Bitcoin.
Currently, Ether is trading at $3,779.81, a decrease of 8.48% over the previous 24 hours.
Bitcoin also registered a dip of 5.88% across the same time period, which made it fall to $48,000. Furthermore, the balance of BTC available on exchanges has increased for the first time since it began dropping over a year ago.
But not all is bad for the crypto market, as so-called Ethereum Killers and layer-2 scaling projects have reached new ATHs this Saturday.
For example, the price of MATIC, the native token of Polygon Network, grew by over 22% in the previous 24 hours, reaching a new ATH of $1.87. MATIC has also registered a 100-fold rise on a year-to-date basis, which has pushed its market capitalization to over $8.96 billion.
Cardano (ADA) and Cosmos (ATOM) have also increased, with ADA growing 18.30% in the previous 24 hours to $2.25. ATOM is now worth $26.47 after an increase of 5.39%.