As Ether (ETH) celebrated its third birthday on July 30th, the cryptocurrency was showing signs of growing pains as the ETH/USD pair slipped below its 30-day moving average of $460.
The digital token has been slowly losing strength against the US dollar since shooting past $800 in May.
Together, the safe haven of the global economy and the young cryptocurrency are creating big price swings. Ethereum’s volatility (the rate of a change in price from standard returns) is a dizzying 7.2 — almost 10 points above a market-weighted basket of the top six cryptocurrencies.
While being whipped around by ETH, 30-day volatility in the ETH/USD pair has fallen from over 10 in 2016 to below 5 in 2018.