Ethereum: Cashing Out Fears Drive Falling Ether Prices, Protocol Co-Founder Refutes Worries

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The vast number of ICOs built on the Ethereum platform were seen as a catalyst for 2017’s ether bull run. Now, lack of activity from any enterprising project is said to result in the protocol token’s price fall. ICOs Causing the Fall As reported by Bloomberg, Aug. 14, token issuance projects using the Ethereum blockchain were regarded as the industry’s frontrunners in advancing blockchain technology and increasing the token economy. As a magnitude of developers swiftly jumped on the Ethereum blockchain to raise funds, Ether quickly grew in value and reached over $1,455 in December 2017–the digital currency’s all-time-high. Nevertheless, ICO projects’ lack of solutions, coupled with Ethereum’s scalability and robustness issues, have jaded investor interest, resulting in freefalling prices. The protocol token was trading at $293 at the time of writing and is down about 65 percent for the year, compared to Bitcoin’s 56 percent decline. ‘Poor Risk Management’