I also read something along these lines, basically when EOS finally launches they'll have so much ETH they could just dump it all to drive down ETH, and with the release people might jump ship to EOS.
Quite bad, but can their current sellings really affect the market in itself in such a large scale?
The demand for ETH isn't infinite, but why would it drive down the rest of the market?
Although surely it might have a part in it.
Topic: Why EOS is actually killing the market - page 2. (Read 491 times)
I;m quite surprised EOS was able to raise so much money. EOS looks very overhyped to me and will most likely end up crashing soon. I don't see it it competing with ethereum at all.
I recently read a report by a trustable source the indicates how EOS, after sucking value from Ethereum during a year, has been selling large amounts to finance its operations and development. The only difference with the rest of the ICOs is the scale.
Just take a look at EOS account and how ETH is routinely sent to Bitfinex, sometimes indirectly. We are talking of several k ether at the time.
https://etherscan.io/address/0x546e864100513cbc499753a8d0e5962a598876b7
https://etherscan.io/address/0xfe652ea0bf0ab6085704c86912661ac914af0852
This is an example of the wall that is keeping the market low, due to companies that launch ICOs but don't really support crypto.
Just take a look at EOS account and how ETH is routinely sent to Bitfinex, sometimes indirectly. We are talking of several k ether at the time.
https://etherscan.io/address/0x546e864100513cbc499753a8d0e5962a598876b7
https://etherscan.io/address/0xfe652ea0bf0ab6085704c86912661ac914af0852
This is an example of the wall that is keeping the market low, due to companies that launch ICOs but don't really support crypto.
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