Ethereum prices slash
August 15, 2018 7:16 am,
The entire digital market is at the moment is down and is behaving like a big pump. While Bitcoin is dropping, the Ethereum hasn’t fared any much better. The main reason we feel it’s the crypto bloodbath because of its insanely high growth in 2017.
Ether, the token from the Ethereum Foundation which is the 2nd largest cryptocurrency is on a downward spiral but there is still a slight ray of hope for everyone out there.
Ether has been the choice for many developers for building on the blockchain. This has fallen by 17% leading to people lose more cryptocurrency than ever. It has been the 1st time since that Ether has fallen so low and below its valuation over one year
- Present: one Ether is worth $266
- August 14, 2017: $304
It has lost almost 40% of its value. This drop also coincided with the wider digital market.
The token has been progressively falling since May when its peak value was $808, and as the essential for many ICO project tokens, its passing has sent the value of most other tokens down, too.
Ether’s plunge below $300 has led to a debate among those in the crypto community. The token had been held as visionary, an improvement on Bitcoin that gives developers a platform to build on — whether it be decentralized apps, decentralized systems or more — but that hasn’t been reflected in this months-long price retreat.
The ICO’s have stated they need Ether to find a financial stability and to get back into focus. Among some investors canvassed by TechCrunch, the sense is that with the downturn of the ICO funding boom that fueled much of Ethereum’s rise, there may be less incentive to hold as the broader market’s interest in the cryptocurrency wanes.
People now have come to realize that Ether is not as stable as they thought and are realizing the value of being immutable and Ethereum is not that. Another major problem is that is the decentralized app backed by the token hasn’t been released yet.