Will Ongoing ICO Sell Off Ruin Ethereum’s Momentum?

  • Alex Dovbnya
    📰 News

    ETH price is sitting at $207 after reaching its short-time high of $217. There are already speculations that this might be related to another huge selloff on the market


Will Ongoing ICO Sell Off Ruin Ethereum’s Momentum?

Ethereum price is currently sitting at $207 after reaching its short-time high of $217. There are already speculations that this might be related to another huge selloff on the market.

A massive Ethereum sell-off continues with initial coin offering dumping three times more Ether than they did during the previous month, according to a TrustNode research. In particular, recent massive drop on price was inextricably connected to 82,000 ETH being sold by ICOs on Sept. 4 alone. All in all, there is already more than $40 mln worth of Ethereum accumulated at squeeze time.


 

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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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