ETH - Why Ethereum Ethereum Classic and Ravencoin Struggled on Friday
The world's second largest cryptocurrency, Ethereum (CRYPTO: ETH) , has successfully undergone a complete network transformation, potentially landing it in regulators' crosshairs. And this might be why Ethereum is down 2.5% over the past 24 hours as of 11:30 a.m. ET on Friday.
Ethereum's network transformation has caused volatility for other cryptocurrencies, including Ethereum Classic (CRYPTO: ETC) and Ravencoin (CRYPTO: RVN) . Both have more than doubled in value over the past three months, making them anomalies in the cryptocurrency space at the moment.
However, now that Ethereum's event is complete, holders of Ethereum Classic and Ravencoin appear to be taking some profits off the table. These two were down 8% and 14%, respectively, as of this writing.
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Why Ethereum, Ethereum Classic, and Ravencoin Struggled on Friday