ICOs sales have put a serious amount of selling pressure on the ETH token as the price of the cryptocurrency has been closely tracking that one of Bitcoin and the aggregated crypto market. According to the ethereum today’s news, the downtrend of the cryptocurrency may not have been triggered by the weak price action as the data shows in the text below.
The treasury sale of ETH from ICOs sales could be a major force that has been pressuring down the price of Ethereum as of late and these ICOs still have a huge amount of that cryptocurrency. This means that they are put up a steady selling pressure which will continue for the foreseeable future. At the time of writing, Ethereum was trading just under 1 percent and has a price of $173.70 which remarks a huge drop from the recent high of over $220 which was set in the middle of September. Looking at ETH’s year-to-day highs, it is clear that the price is bearish and the that the altcoin is currently trading below 50 percent from its late-June high of more than $350.
In the recent research report published on Diar, the data shows that Ethereum’s 77 percent drop from the early 2018 highs has coincided closely with the major ICO projects by selling a huge amount of ETH that they raised from the token sales during 2017:
“Ethereum has dropped 77% in price from the start of last year when ICO treasuries saw massive activity with withdrawals being the highest they ever were this year.’’
The report noted that last November and December were the best periods of ETH sales from the major ICOs which coincided with the bottom of the market as reported by the cryptocurrency news. Although the ICOs sold a huge amount of their ETH holdings, the data shows that they still have nearly half of the Ethereum which was raised from their token sale. If the markets continue to express increased volatility, it is possible that the projects will continue to sell off their ETH treasuries and try to protect their capital which could rapidly deteriorate if the cryptocurrency experiences new changes in the short-term.
Antminer E3 Stops ETC Mining While ETH Has 1 Month Left
‘’E3 is related to eth algorithm, and DDR capacity is up to the upper limit, so E3 will not be able to continue mining (...) the meaning is E3 only can mine to January 2020, then will not mine again.’’2Miners calculated that Ethereum (ETH) mining will be terminated in about five weeks as it is a few epochs later than the older version. Among the first speakers within the crypto community that discussed the story was the author of Ethereum’s mining algorithm Kristy-Leigh Minehan who considered that this could lead to the launch of more capable miners. Bitmain is more focused on Bitcoin mining solutions and Mrs. Minehan suggested waiting for the release of the main competitors Canaan and Innoscilion. As per the previous reports, The hashrate is one of the metrics that can assess how healthy a network is. The higher the hashrate, the more secure a network will become and it also becomes much expensive to mine the cryptocurrency. Ethereum Classic saw its hashrate explode previously during a sign of growing strength so the ETC network is arguable now more secure than ever before.
Ethereum Core Developers Move Forward With ProgPOW Update
“I have not seen any evidence that there is an ideological or people willing to step up and actually have a network split. If I’m wrong I’ll resign as hardfork coordinator.’’Ethereum split once before with the ‘’DAO’’ which was the first attempt to a so called decentralized autonomous organization where more than 3.6 million ETH was exploited. Core developers decided to refund the affected users and the dissenters later formed Ethereum Classic in response. At least two projects were opposed to ProgPOW including SpanChain and the Gnosis projects. The executives of the projects were invited to voice their concerns about the next core developer meeting but this will likely won’t change the decision of the team: “There will be plenty of time for open dissent that won’t really change the decision, necessarily, because we’ve already gone back and forth and approved it twice.” ASIC resistance was a core consideration for Ethereum and the first version of the whitepaper explained how the distribution process of Ethereum will be performed through easily-accessible computer hardware which was more favorable for the community and the decentralization of the token. The leading mining hardware firm Bitmain developed an Ethereum ASIC in 2018 and in 2019 Canaan released an ASIC that was 5 times more efficient than comparable consumer hardware.
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Enjin Goes Live On The Ethereum Mainnet: Report
“Simple, great user experience is one of the core product design philosophies at Enjin, and we made damn sure that the Web Panel is minimal, straightforward, and clean.’’The process of creating a new blockchain project is not so complex and it can be done in four steps. The process doesn’t require any coding knowledge but while the Enjin platform web panel enables the codeless creation and management of the blockchain assets, the developers will have to employ Enjin platform API and SDKs when the time will come to integrate those assets with games and apps. The platform API is graphQL based while the Platform SDKs include Java, NODEJS, Godot and Unity. According to the company, the Enjin platform will be powered by Enjin Coin and will serve as the ultimate minting resource and used to back the value of the issued blockchain assets. While the Enjin platform is a relatively new platform, the company was present in the crypto space for more than 10 years. Enjin’s huge ecosystem is preferred among gamers and with partnerships with major companies such as Unity, Samsung, and PC Gamer, the platform has a strong presence in the gaming industry. When it comes to future plans, the company said to be working on a new way to distribute blockchain assets via QR codes.
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