Initial Coin Offering’s Ethereum Balances Yet to Be Sold but Could Spark Another Drop for ETH Price

2018-11-23 03:58

As per market data available on the internet, it appears as though there is still a lot of Ether tied with existing ICO projects. As a result of this, a fresh new fear of ‘mass liquidation’ is now in the air which could possibly send down the value of Ether even lower in the coming few days and weeks (with many analysts even suggesting that the digital currency could stoop to its early 2017 levels).

What’s In Store For Ethereum In The Near Future?

As things stand, Ether’s market value has already been reduced to an 18 month low of around $126. This represents a dramatic crash of the once premier asset which was trading at an ATH (all-time high) of around $1400 just over ten months back.

In terms of what is causing this latest dump, many analysts are saying that the SEC’s latest ruling against two ICO projects could possibly be behind this sell off. Not only that, recently, Zachary Coburn, the man behind Etherdelta, was also called up by the SEC for “operating an unregistered national securities exchange”. However, this news still does not justify a 40% drop in the intrinsic value of a premier currency (by any stretch of imagination).

More On The Matter

It is also worth noting that a recently released research study by online media outlet ‘The Block’ shows that ICO treasuries now have in their possession just a little more than 3.57 million ETH tokens. This number roughly translates to around 3.5% of the world’s total Ethereum supply.

Also, as the price of ETH keeps dropping, it seems as though more and more companies will have to dump their crypto holdings in order to procure some tangible fiat assets moving forward.

Lastly, the research also states that in April this year, ICO treasuries held 4.65 million ETH, or 4.5% of the total token Ethereum supply. What this seems to imply us that since April, many of these ICO projects seem to have liquidated a majority of their digital asset supplies.

Final Take

Ethereum is currently back at its early 2017 levels, which means that ICOs will most likely not look to sell off their remaining tokens anytime soon.

However, a major concern moving forward is that most ICO projects are no longer “generating any new revenue streams” and thus as a desperate attempt to cut short their losses, they might have to sell off all of their remaining digital holdings.

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A Bug Making Ethereum Transactions on Exchanges Vulnerable Has Been Fixed

A bug centering around a new Ethereum token, GasToken, which was enabling abuse on cryptocurrency exchanges, appears to have been resolved. The details are provided in a report originally published on November 13, 2018, that discussed how the bug was exploited by attackers, and what digital platforms could do if they wished to protect their hot wallet funds.

2018-11-22 00:34


Blockchain Business in Crypto Valley Has Doubled Since Last Year: Report

The number of blockchain-related companies in Switzerland and Liechtenstein has doubled in the last year, according to a new study published by CV VC. The Zug-based firm, in partnership with Strategy& (PwC’s global consulting arm) and inacta, compiled information about the top 50 blockchain and digital asset companies between the two countries.

2018-10-11 00:18


Ôîòî:

Ether September Price Lows Could Signal End of Bitcoin Bear Market: Analyst

Ether (ETH) prices “capitulating” in September was “significant” to ending the 2018 cryptocurrency bear market, according to a new theory from one cryptocurrency analyst.   Thies: ‘We Were Looking In The Wrong Place’ In a series of tweets, UTR Equity’s crypto market commentator Eric Thies postulated that Bitcoin’s run to all-time price highs in December 2017 came as a result of Ether investment during the ICO phenomenon.

2018-10-9 16:00


Ôîòî:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


Ôîòî:

New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic.

2018-9-15 01:22


Ôîòî:

CBOE May Launch Ether Futures by the End of 2018

According to Business insider’s article released on August 31, 22018,CBOE is currently waiting for further information from the US Commodity Futures Trading Commission (CFTC). The launch of Ether futures would be a remarkable step forward for the cryptocurrency community as it could lead to wider trading in the cryptocurrency ecosystem and potentially lead to an exchange-traded fund.

2018-9-2 23:00


Ôîòî:

Bitcoin Price Analysis: High Shorts Count Could Signal Price Hike

Once again, bitcoin finds itself precariously perched on the bottom of its macro trading range (TR). After a strong round of selling over the course of two weeks plunged the price back to the $6,000s, bitcoin began consolidating for several weeks at the bottom of the TR:Figure 1: BTC-USD, 1-Day Candles, Macro TRAs shown in the figure above, the market has interacted several times at the current price range and it has been a source of three major bullish rallies.

2018-8-25 00:42


Ôîòî:

First U.S. Congresswoman Reveals Holding Cryptocurrency (And It’s Not Bitcoin)

After the US government made federal workers declare cryptocurrency holdings in June this year, filings have begun to emerge about which politicians own which coins. Filing Reveals Up To $30K Holdings In a federal disclosure report August 14, Hawaii Representative Tulsi Gabbard became the latest national political figure to do so, revealing she bought Ether (ETH) and Litecoin (LTC) in December 2017.

2018-8-24 22:00


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