After hitting a one yr low earlier final week, the Ethereum worth has been struggling to remain above the $200 stage. On the time of writing ETH is buying and selling at $196, down over 10% up to now 24 hours. What’s going on? What does the long run maintain for Ethereum? This text will try to reply these questions.
What’s going on with the Ethereum worth?
Aside from the apparent elements comparable to the entire cryptocurrency market falling together with Bitcoin, thus dragging the Ethereum worth down. There are rumors floating round that ICOs are liquidating their ETH holdings to get better some worth. Within the month of September alone, ICOs solely raised roughly $21 million, which is nothing in comparison with the a whole bunch of thousands and thousands that was being raised final yr.
As a result of the cryptocurrency market isn’t doing nice total, ICOs can’t longer promote their very own tokens to fund their initiatives. Because of this, they must resort to promoting…