The vice president of Yuga Labs stated that Ether (ETH) could plunge to $200 in a prolonged bear market, which represents a decline of about 90% from its current price. This follows a recent 22% decrease in Ether value, raising investor alarm.

The cryptocurrency community’s responses to Quit’s prediction are mixed; some anticipate further drops while others suggest that such a decline could only occur in case of a major systemic collapse, similar to what was seen in 2018.

In light of the dropping prices, Ether whales have begun moving large amounts of ETH to protect their investments from liquidation, highlighting the increased volatility and stress within the market.