I see the market cap of Ethereum is going down day by day. Could someone explain what is really driving down? Is it due to market FUD or sth different.
It is going down just because the bitcoin is facing massive dump. The rest of the coins whether it is ethereum, neo or any other altcoin, they are completely relying on bitcoin for the rise in their market values. This is the major reason why you are observing downfall in the prices of ethereum too. This is not permanent at all, with the passage of some time, ethereum will rise following the leader of crypto market.
Yes, I agree. Because bitcoin is the king of cryptocurrency as many claim it, so when it is down the normal market reaction is down also. Bitcoin commands the cryptocurrency world. I do not know when other altcoin next to bitcoin will take over the throne to the leading bitcoin. But as of now, when the market is down it is because of bitcoin.