Recently, Ethereum’s price has been dragged down by the Tezos ICO and potential some others selling some ETH for cash. This has been confirmed by multiple sources. The size of the Tezos ICO was so large, they are most likely diversifying into fiat. Their website shows that they raised 59,636 BTC and well as 328,869 ETH. Vinny Lingham’s Civic has divested 80% of their ICO raise out of ETH and BTC, which he recently mentioned on Twitter.
An interesting article on CoinDesk states that Daniel Masters (a former J. P. Morgan Energy Trader) believes the appreciation of Ethereum and other Alt coins is driving Bitcoin’s current price. All boats float with the tides. Ethereum ICO market may prove to be the killer app in Crypto Markets.
It may prove to be a good time to buy Ethereum right now. Bitcoin still has severe network congestion so many people are steering clear.
If anyone has ideas for the next Ethereum killer app, please leave a comment here.
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