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Monday, July 17, 2017

Ethereum Lost $22 Bln in 2 Months, ETH Price Can Still Rise in Long Run

Ethereum Lost $22 Bln in 2 Months, ETH Price Can Still Rise in Long Run

Since late May, the market cap of Ethereum, the second largest crypto asset and Blockchain network in the market, has dropped from $36 bln to $14 bln, recording a $22 bln loss within a two-month period.


Analysts from mainstream media networks including CNBC have attributed the recent fall of the Ethereum market cap to various factors, including uncertainty surrounding Bitcoin’s scalability and the entire cryptocurrency market.


Still, some factors have become quite evident in the past few months, amidst the rapid growth of the initial coin offering (ICO) market. Successful ICOs including Status, Bancor, EOS and Tezos have raised hundreds of millions of dollars, but since the completion of their ICO campaigns, none of the large-scale ICOs and Blockchain projects are yet to present viable products and tested software.


EOS for instance, the ICO that raised $180 mln, is set to complete minimal viable testing environment by the end of this summer. Only by fall of this year, the EOS development team will launch its minimal viable test network that can run independent codebases of developers.


Full story at http://bit.ly/2t8YHSA


Source: CoinTelegraph


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