ICOs Created a Strong 44% Downtrend for Ether in 14 Days

[Goodcat49]

Within a period of just 2 weeks (August 1 - August 14), the price of Ether, the native crypto of Ethereum network, plunged by 44%.

In two weeks, the price of Ethereum dropped from $470 to $260, marking its lowest point this year by plummeting below the $300 mark for its first time since early November last year.

The whole Crypto market faced a sharp decline in real valuation, losing almost $150 billion of its real valuation in within a month. However, Ether, which performed particularly well against the US dollar over other bull Cryptos such as Bitcoin and Bitcoin Cash, easily turned out to be one of the worst performing Cryptos in August.

What Really Fueled the Decline of Ether?
On August 14, even after experiencing such a great plunge in price, Ether plummeted 18% of its value against the US dollar, falling from $300 to $260 within a half-day span.

While other Cryptos did suffer significant plunges in value, Bitcoin for example, only lost 6% of its Market Cap against the US dollar.

In this week, several analysts such as Eric Wall, a lead crypto researcher at FinTech firm Cinnober, revealed that Blockchain projects that made hundreds of millions of dollars in Ether in last one year dumped the digital asset on the crypto exchange market, producing a domino effect across big exchanges.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/icos-created-a-strong-44-downtrend-for-ether-in-14-days/