Chart for ETH / USD (1D)
Ethereum (ETH) and those who support it have some valuable lessons to learn from the past. Of course, what is at the top of the list is "reap what you sow". How relevant is it? Well, when Ethereum (ETH) broke off from the original Ethereum chain, for each original Ethereum coin you had, you received two coins, ETH and ETC. Now, most miners and developers have switched to the new chain, but some have followed the old chain (ETC) out of respect for the principles of immutability and decentralization. Unfortunately, the principles did not mean much to those who had already violated one by supporting the fork. So when Ethereum Classic (ETC) would appreciate the price based on some positive developments, these people who had bags of ETCs from the ETH fork would have dumped their currencies in trading. There were many speeches about the original DAO hacker who dumped most of their coins and everything else, but since most of those coins were confiscated, this was not the real cause. Of course, those who took the time to study the addresses and their trading patterns could easily tell that they were members of the new ETH community to download their ETC whenever Ethereum Classic (ETC) made a move.
So, how is it relevant today? Well, EOS (EOS) has just done the same thing for Ethereum (ETH) that once did on Ethereum Classic (ETC). It is no secret that EOS (EOS) holds the largest number of ICOs in the entire history of ICOs and has raised a huge sum of $ 4 billion! Now, the interesting part is that this huge amount has been raised in the ETH. Of course, Eos (EOS) did not need to liquidate all $ 4 billion at one time, but eventually they had to sell some of their cash to pay for development and expenses. They did it, which initially put pressure on Ethereum (ETH) and the entire community has seen it. This was a shark that smelled the moment of blood for EOS (EOS) which also had to be a competitor EOS (EOS).
Chart for ETH / BTC (1D)
So, with the passage of time, EOS (EOS) continued to unload the bags of Ethereum (ETH) but this time the reasons were different. They wanted to offload Ethereum (ETH) in the same way that some people in the Ethereum Foundation (ETH) wanted to smother Ethereum Classic (ETC) in its early days. This dumping behavior on part of EOS (EOS) has made Ethereum (ETH) extremely vulnerable in recent months. He has also left many investors worried about what will eventually happen to Ethereum (ETH) if every ICO project starts doing the same. Of course, Eos (EOS) could have chosen to sell its ETH in OTC markets where it would not have influenced the price. However, their motives were clear and did not intend to hide it because they intended to send a clear message to the whole community. Anyone can track the main EOS of EOS account holders downloaded to Bitfinex during the recent fix. It remains to be seen whether Eos (EOS) can do the same in the future, but Ethereum (ETH) has certainly learned valuable lessons from the past for now.