Ethereum Falls Below $2,300 as Solana Drops Under $100 and Ether ETFs Lose $485 Million
Ethereum fell below $2,300 for the first time in two months, while Solana dropped beneath $100, as both cryptocurrencies recorded steeper daily losses than Bitcoin. Coin Bureau reported that ETH declined 3.7% and SOL fell 3.4% on the day, compared with a 2% drop for Bitcoin.
The latest declines extended a broader monthly downturn across the three major cryptocurrencies. Ethereum and Solana were both down approximately 14% over the past month, according to figures shared by Coin Bureau. Bitcoin also weakened, reaching its lowest price since September 18.
Ethereum and Solana Face Renewed Selling Pressure
Ethereum's move below $2,300 marked its first fall beneath that level in two months. Solana also slipped below the psychologically significant $100 threshold. The daily performance figures showed both assets declining more sharply than Bitcoin, with ETH losing 3.7% and SOL dropping 3.4%, against Bitcoin's 2% decline.
The roughly 14% monthly losses for Ethereum and Solana indicate that the weakness has extended beyond a single trading session. However, the figures shared by Coin Bureau do not identify a specific catalyst for the declines or establish whether the latest price movements will continue.
Bitcoin's drop to its lowest price since September 18 added to the negative market picture. Although Bitcoin's daily loss was smaller than those of Ethereum and Solana, the move showed that the largest cryptocurrency was also under pressure during the period covered by the report.
U.S. Spot Ether ETFs Record $485 Million in Outflows
Institutional investment flows provided another important data point. According to Farside, U.S. spot Ether exchange-traded funds recorded $485 million in net outflows between October 14 and October 22.
The reported outflows represent the net amount withdrawn from the funds over that period. They provide a separate measure of investment flows alongside the price declines in Ethereum and the wider cryptocurrency market. The figures alone, however, do not establish that ETF outflows caused Ether's decline.
The combination of Ethereum falling below $2,300, Solana breaking below $100 and both assets losing approximately 14% over the past month underscores the scale of the recent price weakness described by Coin Bureau. Bitcoin also reached its lowest price since September 18, while Farside's data showed $485 million in net outflows from U.S. spot Ether ETFs from October 14 to 22.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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