Ethereum Plunged 15% Today to $305, What Will Happen to Alts and Tokens?
The price of Ether, the native cryptocurrency of Ethereum, has fallen by 15 percent in the last 24 hours to $305, as other major cryptocurrencies like EOS fell 13 percent.Tokens have followed the price movement of Ethereum, EOS, Ripple, and other major cryptocurrencies, recording 10 to 20 percent losses against the US dollar. But, most tokens demonstrated intensified movements on the downside, with steeper drops.What Has Caused the Drop to Materialize?The vast majority of investors and analysts have struggled to offer specific reasons to support the sudden drop in the price of major cryptocurrencies on August 11. Some have pointed towards the Bitcoin exchange-traded fund (ETF) saga, but given that positive development and news in the cryptocurrency sector have barely impacted the cryptocurrency exchange market, it is highly unlikely that Bitcoin ETF-related news have led the market to fall.Since February, Bitcoin has demonstrated a weird but an evident pattern. Bitcoin
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