Among the top three virtual currencies, none of have lost such a huge amount of value. Ethereum’s value erosion is nothing short of enormous. And with the Initial Coin Offering market now in trouble, it appears the issues Ethereum (ETH) is facing isn’t about to end anytime soon. Authorities around the world have started tightening the regulation of ICOs. This is why the fundamentals are not positive.
A Fall Below the $100 Area Appears Likely
The current price movement of Ether means that a fall below $100 is imminent. Yes, things are not actually looking good for Ether. Additionally, with the competition within the Blockchain increasing from the other virtual currencies, the use of the Ethereum blockchain isn’t increasing by any means at a faster pace when compared to what it was earlier.
Whether we will see a turn around in the fate of the digital asset remains to be seen. We can’t say if it will hit the heights it attained when things were better. That is another matter altogether. For now, however, it appears that there is no bottom deep enough for the Ether token price.
Ethereum Blockchain Is One of the Most Useful
The blockchain of Ethereum (ETH) is one of the most useful in the blockchain space. Nevertheless, the blockchain project is paying a big price for the abundant fake projects in the crypto industry. A lot of Initial Coin Offerings used the protocol of Ethereum in 2017 and 2018. Ethereum is now the one paying for the sham motives of most of these projects.
The massive decline in the value of Ethereum is basically as a result of the low rate of new Initial Coin Offerings coming in the market. Investors are now smarter, they now have a better understanding of the landscape. A lot of existing projects are now selling-off their Ether as a result of the crash in the value of the digital currency.
However, the founder of ConsenSys and the co-creator of Ethereum – Joseph Lubin – believes that the adoption process and use cases of…