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The Wall Street Journal: Ethereum plunges 24% as cryptocurrencies hit by massive selloff

Cryptocurrencies led by bitcoin and Ethereum were falling across the board on Monday as a massive run-up this spring has spurred some profit taking.

The most prominent drop came in ether, the digital currency used on the Ethereum network , which recently was down 24% at $231, according to Coindesk. Meanwhile, bitcoin was down 7% at $2,424. They were not alone. Thirty-eight of the top 40 digital currencies listed on the site Crypto Market Cap were all down, including other prominent coins like ripple, down 8.6%, and litecoin, down 14%.

Read:Teenage bitcoin millionaire can see the cryptocurrency’s value shooting as high as $1 million

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