Ethereum price swings down due to mass sells

As noted by financial analyst Alexander Kuptsikevich, the community is concerned with the certain event: Ethereum has considerably fallen due to the big sell on Bitfinex. This has been made by the team of EOS. In an hour, the trade volume on this exchange has become 9 times larger. The project has sold a vast part of its ETH possessions and this naturally affected the price of Ethereum.

Alexander Kuptsikevich tells that this had made the whole market community to learn that the influence of ICOs towards ETH was underestimated all along. These enterprises will have to convert coins into fiat to finance themselves “in the real world”, expert notes.

The price of Ethereum has indeed dramatically fallen - from $700 nine days ago to $565 as of press time. The downfall described by analysts and media outlets is visible - Monday trades left ETH without those sixty dollars it had at the end of Sunday (from $570 to $512).

When looking at the big-scale stats, one can deduce that this digital currency has not been experiencing a good motion for at least 10 days, which corresponds with the overall market trend. As some journalists already noted, “the bears were never leaving”.