Liquidity is important in any market because you do not want a critical shortage, as opposed to a general shortage, to sink your investment. For this reason, we established an initial target on December 3, 2016 for ETH in order to begin facilitating a DAO token sale on November 15, 2016. For this purpose, we conducted a scaling exercise to increase the network capacity so as to be able to facilitate the DAO token sale on November 15.
The DAO token sale was launched on November 17, 2016, and we observed an immediate spike in the price of ETH. For the first hour, it was fluctuating around $9001000. As the volume increased, the price stabilized at approximately $600.