Ethereum Falls to $185 What Experts Say

Ethereum Falls to $185

Earlier yesterday, on September 9, the price of ETH, the native cryptocurrency of Ethereum, fell to its yearly low at $185.

While ETH has rebounded above the $200 mark after an unforeseen recovery of
Bitcoin from $6,190 to $6,450, since July, ETH has seen a steeper
decline in value than other major cryptocurrencies.

How Much is it Due to ICO Sell Off?

In late 2017, the price of ETH surpassed the $1,500 mark and investors of ERC20
tokens on the Ethereum protocol achieved 10 to 100-fold returns
from their initial coin offering (ICO) entry. Ethereum Falls to $185

How to finally withdraw ECP to BTC

Ethereum Falls to $185

Ethereum Falls to $185


Name Price24H (%)
Bitcoin Cash(BCH)

Investors in tokens like EOS, Ontology, ICON, Zilliqa, and 0x had seen massive
gains in late 2017, at the peak of the cryptocurrency market.

But, in the past few months, the price of ERC20 tokens have fallen substantially against Bitcoin,
which has also experienced a 70 percent fall against the US dollar.

Ontology and ICON have seen 75 to 80 percent losses against Bitcoin,
losing out by more than 95 percent against the US dollar.

The majority of analysts in the cryptocurrency sector have attributed the decline in the
price of ETH to the sell off of ERC20 blockchain projects that have raised
millions of dollars in ETH in their token sales. Crypto Market Analysis Report 31 August 2018

As the price of ETH started to fall and the cryptocurrency market entered a major bear market,
analysts have said that ERC20 projects started to sell their ETH holdings,
causing ETH to experience a more intense downtrend than other major cryptocurrencies.

It is evident that the decision of ERC20 projects on Ethereum to sell large amounts of
ETH in panic largely contributed to the downtrend of ETH. Ethereum Falls to $185

Can it be Prevented in the Future?

Earlier this week, Augur co-creator Joey Krug responded to some of the criticisms made
by investors in the cryptocurrency community on the decision of the Augur team to
sell ETH at $0.7 to fund the operation of the project.

Krug stated that Augur sold all of the ETH it raised in its token sales immediately
after its ICO to fund its development, adding that Augur is not a hedge fund but a
project working to create a sophisticated decentralized system.

If Augur had sold its holdings as ETH reached $1,000 in late 2017, instead of
$700,000, Augur could have raised a billion dollars.

But, as Krug emphasized, investors in the ICO market do not provide capital to blockchain
projects to operate as hedge funds but to maximize their resources to create a
successful decentralized application or protocol. Ethereum Cash Pro ECP IS 100% LEGITIMATE READ THE TRUTH

Linda Xie, 0x advisor and Scalar Capital co-founder, said that her team has been advising
projects to liquidate their ETH upon their token sale to fund operations.

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“You and the Augur team did the right thing and I have been advising projects to do the same.

It’s easy to view all of this in hindsight as the price of ETH could have easily gone the
other way while you were building,” Xie said. Ethereum Falls to $185

The massive sell off of ETH initiated by ICOs occured because ICOs wanted to avoid missing
out on a rally like Augur did in 2016.

But, not only is it extremely difficult to measure the peak and bottom of assets,
investors did not raise millions of dollars for ERC20 projects to trade
and invest in the cryptocurrency market. Ethereum Cash Pro ECP KYC Document Upload

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The approach of Augur, Xie, and other prominent projects, investors, and accelerators to
prevent blockchain projects from operating like hedge funds to open-source developer
communities could prevent an intensified downtrend for ETH in the future. Ethereum Falls to $185

Nick Johnson

See also  Bitcoin - a currency that consumes a lot of energy
Updated: September 10, 2018 — 1:42 pm

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