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Cryptocurrency ether hits lowest point of the year, extending its 2018 nosedive 

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FILE - In this Feb. 7, 2018 file photo, a neon sign hanging in the window of Healthy Harvest Indoor Gardening in Hillsboro, Ore., shows that the business accepts bitcoin as payment. (AP Photo/Gillian Flaccus, File)
FILE - In this Feb. 7, 2018 file photo, a neon sign hanging in the window of Healthy Harvest Indoor Gardening in Hillsboro, Ore., shows that the business accepts bitcoin as payment. (AP Photo/Gillian Flaccus, File)

Ether hit a new low for the year on Tuesday, extending what's been a brutal nine months for the world's second largest cryptocurrency.

The digital asset's price dropped 7 percent bringing its total decline for the year to more than 76 percent, according to data from CoinDesk. The cryptocurrency fell to a low of $180.60 after kicking off the year above $770.

Investor enthusiasm for ether is fading. Mainstream adoption isn't here yet, investors can now bet against the market and blockchain competitors are gunning to be the top platform for developers. Read more from CNBC News.

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