This year’s collapse is entering the same league as Bitcoin’s 93 percent plunge in 2011.
The cryptocurrency has started falling in price again after months of stability.
Ether sank as much as 15 percent and Bitcoin fell almost 7 percent to a three-week low.
The largest tokens tanked Wednesday as Goldman Sachs backed off plans for a cryptocurrency trading desk.
Cryptocurrency technical analysts have been warning against buying on the dip after the sell-off.
Bitcoin is back on the decline, driven in part by the rejection of the Winklevoss twins' Bitcoin ETF.
Speculators are bidding up Bitcoin after three weeks of declines took it to the lowest level this year.
Many of Bitcoin’s closest peers have dropped more than 16 percent since Thursday.
Governments around the world are increasing scrutiny of cryptocurrencies as prices soar.
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