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.
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/https://coinidol.com/upload/resize_cache/iblock/739/900_900_1/7396855ec1795da3a6c5e8ef2c129c14.pngI don't think that people understand how much ICOs are negatively affecting the prices of other coins especially the price of ethereum. The only reason that ethereum has been in a downtrends when the rest of the market has been holding up well is because of the ICOs which are all basically scam coins by the way. And it will take a while before it gets better.
