Recently, there is plenty of negative ethereun news. Over time, for eth coin, the second largest cryptocurrency in the market, the situation is not optimistic. Ethereum has undergone tremendous changes in the past few months, and although it is not enough to move coins to the lower positions in the chart, it still represents a huge change in value compared to the value of encryption that came back at the beginning of the year.
In this sense, it is worth mentioning that, according to CoinDesk, the value of encryption is 90% lower than that of January, and only today, we see a decrease of 4.48% compared to the last 24. Hours, this fact logically makes many of us feel worried.
Ethereum reached $174 against the US dollar, and although we were used to observing the ups and downs of coins when we were in line with bitcoin coin, the ether was not so separate.
However, this time the situation is different, because even with industry volatility, Bitcoin has decreased by 9% in the past 30 days, while on the other hand, Ethernet shows a nearly 30% reduction period. What the hell is going on? It seems that two major issues are affecting coins. Let's talk about them.
One of the things that may be reflected about the performance of the Ether is the recent comment that Etafang's co-founder Vitalik Buterin is related to the blockchain and what he is currently conceiving.
Vitalik made a statement to Bloomberg News, who claimed that the era of fruitful encryption is finally over. He said: "There is no chance to increase the space by a factor of 1000," so we need to admit that "the blockchain space has reached the point where the ceiling can be seen."
Of course, as expected, this declaration will not be ignored by the community. The real question here is how companies expect to convince their customers of their products, and one of their most important members is to promote niche markets for specific products.
The Ethereum co-founder continued to cover up his remarks, but this did not do anything good.
We are not sure whether these statements will affect the price, but it is certain that people are likely to sell their Ethernet.
Ethereum is widely adopted for its platform. In this sense, Ethereum gives the cryptocurrency world the opportunity to build projects on its network. Therefore, we all agree with the fact that Ethereum is more like a valuable storage than something else, a large computer that all projects are creating, or at least a place to create a project, so we believe that the ethereum market must recover soon.
In the last year, the initial coin product had an incredible boom that greatly benefited the ether. However, ICO is no longer deployed, especially when the US Securities and Exchange Commission clarified that even if Ethereum itself is not secure, many projects built on its network have security features.
In this regard, CoinFi CEO Timothy Tam said: "Retail investors were completely ecstatic a few months ago. Now, this sentiment has changed, they are panicked, "we can all be sure that" shorts will set off this wave. "
In addition, one of the reasons for the market to do so is due to the pressure exerted by the short sellers.
In this sense, according to CoinFi's team data, their platform shows how multi-million dollar bets are against the historical highs of ether, which will definitely affect prices. Do you think eth coin can survive under the most recent conditions? When it comes to market resistance, will it be attracted to Bitcoin again? We all hope, but at the same time, let us keep an eye on it.