Will Ongoing ICO Sell Off Ruin Ethereum’s Momentum?

  • 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

Cover image via U.Today

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.


 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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