Ethereum (ETH) is still drastically decreasing. In fact, the rate at which the digital asset is decreasing is much higher than other assets among the most important tokens. This continued downward spiral has surprised investors and is causing concern among many that the digital asset is heading.
It seems that no fund is OK for Ethereum (ETH) as it continues to fall. This shows that the digital asset has fallen from around $ 1200 from the start of the year. Therefore, the token has lost more than 90% of its original value due to the highly volatile market.
Ethereum (ETH) at risk of drowning in double digits
The ether is at risk of going to double digits because the next support area for the cryptocurrency is in the $ 100 position. It is a psychological and technical support. That's why the support line is very important. The last time ETH saw these levels was May 2017. At the time, the digital asset had formed support for $ 91.
This clearly indicates that if the price of the digital asset breaks the psychological and technical support area of $ 100; it can fall to $ 91. This is the main reason why it is crucial that the digital asset maintains the $ 100 area support. The problem is that the downward momentum is fierce to the point that it could even break $ 100.
The double digits for ETH are becoming more a possibility than an imagination. Thus, the reason why investors remain skeptical about Ethereum (ETH) considering the significant amount of value it has lost.
Ethereum (ETH) has lost a significant part of its value compared to other main activities
As mentioned above, Ether has lost a huge part of its value. The figure is 90% at the time of printing. Among the first three virtual currencies, none has lost such an amount of value. The erosion of the value of Ethereum is nothing short of huge. And with the initial supply market for coins now in distress, it seems that the problems that Ethereum (ETH) is facing will not end soon. Authorities around the world have begun to strengthen the regulation of ICOs. This is why the fundamentals are not positive.
A fall below the $ 100 area seems likely
The current price movement of Ether means that a fall below $ 100 is imminent. Yes, things are not really good for Ether. Moreover, with the Blockchain competition increasing compared to other virtual currencies, the use of Ethereum's blockchain does not increase in any way at a faster rate than it was before.
It remains to be seen if we will see a turning point in the destiny of the digital resource. We can not say if it will reach the peaks reached when things will get better. This is another question. For now, however, it seems that there is not a fund deep enough for the price of the Ether token.
What is Ethereum?
Ethereum, the second largest in terms of market value, is preparing for the next move against the US dollar, but has declined compared to bitcoin. ETH / USD may increase in the short term if there is a successful break.
- C & # 39; is a bullish trend line formed with the hourly chart of Eth / USD (data feed via SimpleFX).
- The pair could continue to rise and could even break the recent high.
- The price of Ethereum is traded with a bullish price action against the US dollar and Bitcoin.
- Although the prices of Ethereum have moved sideways Friday morning, a new fund approved by the co-founder of Ethereum Vitalik Buterin has the crypt ready for some huge gains.
The secret project was born of a cast of heterogeneous actors of power such as the Avengers, including Cosmos, Golem, Maker, Global Blockchain Labs, OmiseGo, Raiden and Tendermint. (Source: "Vitalik Buterin hopes that the new Ethereum fund will be published on Hype", CoinDesk, 16 February 2018.)
All of these companies are developing decentralized applications on the Ethereum platform, which, in a sense, makes them competitors.
However, they have a common interest in strengthening the ecosystem of Ethereum, because the stronger this ecosystem, the better its chances are against rival blockchains.
With this in mind, they created the Ethereum Community Fund (ECF). In a broad sense, it opens the lines of communication between the various projects on the Ethereum blockchain. But more specifically, it creates a grant program to finance selected projects.
"Ethereum has grown beyond my expectations in recent years, but work is not clearly over," Buterin said in a statement to CoinDesk.
What it does is make Ethereum bigger than the sum of its parts. How many other blockchains can boast something like this? He is thin, dear reader.
There is an upward reaction and the price has come back. On the downside, there is a bullish trend line that is forming with the time chart of the Ethics / USD. The couple is exchanged for a positive bias. All drops in current levels remain supported.
Users of Ethereum fight against the recovery of Parity funds
The debate on Parity's lost funds has peaked in recent days, with a strong anti-recovery position taken by many in the community.
Parity's decentralized multi-signature portfolios have been compromised after a user has exploited a bug in an Ethereum smart contract, eliminating the wallet library function.
This has blocked over 500,000 Ethereums and made all portfolios unusable.
Parity said that to recover the lost funds, users would need to "hard fork" the blockchain. This would require the consent of the miners, who verify the transactions on Ethereum.
To facilitate the recovery of equality funds, the developers of Ethereum have created a proposal to improve the Ethereum (EIP), which would work as a standardized recovery model.
The EIP is open to public comments and the vast majority of those commenting are opposed to the application of the EIP.
This choice is indicative of the difficulty of blockchain governance, as there is no centralized authority to turn to in these situations.
While Parity users have lost a large amount of funds and want to recover them, those against the implementation of these recovery tools argue that they could increase the attack surface of the Ethereum blockchain and increase dependency on the EIP editors.
Many referred to the EIP as "getting out of the paperless prison", which requires only the approval of the editors of EIP to manipulate the funds on the blockchain.
They claimed that the implementation of EIP 867 could potentially damage the decentralization and security of the blockchain.