Ethereum (ETH) hits a new low in 2018

One week review of cryptocurrency market:

The total market value of cryptocurrency was US$212.3 billion, down 1.1% from the previous week, and the volume of the top 100 currencies increased by 1.7% on the 7th.

 

Weekly outlook:

August 20th: Ethereum Classic (etc coin ) on Bittrex

August 21: The US Senate's Energy and Nature Committee announces the "blockchain and related technology energy efficiency" meeting.

 

Analysis this week:

Ethereum exchange to btc fell to a new low of 0.042 bitcoin (BTC) in 2018 this week.

 

The drop in the price of ETH has a lot to do with the cash withdrawal of the ICO project side. As shown in this week's ethereum price chart, the price of ETH has fluctuated higher than BTC in the last two weeks. Moreover, affected by the bear market, ICO project parties have used ETH exchange to BTC or French currency for stop loss. We believe that the decline in ETH prices is related to the development of ICO project. In the second quarter of 2018, as many as 57% of ICO projects remained in the concept at the beginning of the financing period. Compared with the projects in the testing phase or the formal development phase, the project parties that remain in the concept phase have less development resources and lower exit costs.