Ethererum, the queen of the cryptocurrency market and lighter for ICO fever in the latter half of 2017, has fallen more than 82% from the peak this year.http://tinyimg.io/i/KL3gMef.jpgEthererum, the queen of the cryptocurrency market and lighter for ICO fever in the latter half of 2017, has fallen more than 82% from the peak this year.
In the past two weeks since August 14, Ethereum plunged 44 percent , hitting its lowest level in a year after falling below $ 300 for the first time since November.
As does so?The decline of the aether surprised many observers with the following factors: many developers are using its platform to build applications; ICO continues to develop on a fast-paced basis; It has the advantage of being the first pioneering crypto project; and ConsenSys has carried out many public projects on this platform. The basic qualities of the Ethereum platform have also improved over the past year.
This too much discount may be due only to Ethereum's decline in the overall market.
Investors seem to have denied Ethereum's contributions to programmers and businesses. One reason for this may be that most of the e-money funds established since mid-2017 - a total of more than 370 - have missed out on the e-money fever last year.
Many researchers have also pointed out that ICO may have undermined the function of the Ether as a currency.
Users on the Ethereum platform are required to pay by a specific third-party token code to fundraise instead of using ETH. Third-party token makes ETH less useful as a currency. In addition, ICOs that use ETH as their cryptocurrency co-ordinator need to sell it to cover operating expenses when their projects are in trouble, and when they have not yet attracted other investment capital from the projects. Too vague and unrealistic. The news that many CEOs of ICO projects have sold off their ETH to cover costs has led to a sharp drop in ETH prices.
Other factors make Ethereum sharply reducedhttp://tinyimg.io/i/UGk2g4T.jpgThe Bitcoin Dominance Index, which is currently capitalizing on Bitcoin's market capitalization, is currently up over 50%. Bitcoin accounts for more than half the market capitalization of the cryptocurrency market. This shows that the cash flow on the crypto market is pulling out of the Altcoin and into Bitcoin, when investors find that Bitcoin is the most valuable currency algorithm, and the most reliable means of avoiding storms. In the context of falling trends, ICO projects are increasingly discredited, Ethereum also suffered the dump situation as many other altcoin.