ETH coin plummeted, everyone panicked


ETH has always been one of the main digital cryptocurrencies for many project parties. In addition to its financial and monetary attributes, the complete ecology of the Ethereum blockchain network allows entrepreneurial projects to develop their products more quickly and go online. . In the eyes of many people, ETH will continue to add value, and it is expected that the Ethereum network will be more prosperous in the future, and the ETH price once reached a high price of 10,000 RMB.

However, after the round of market adjustment at the beginning of this year, Ethereum prices began to decline continuously. As of press time, ETH's current price is only 13.2% of the highest price. And as far as the current downward pressure on ETH is still huge, panic in the market continues to spread.

Data platform Mytoken App has joined the warning notice of ETH's large inflows and outflows and the sharp rise and fall of prices since last week. It is rare to issue 9 ETH funds inflows and outflow notices on Sunday, September 9.

It is widely believed in the industry that ETH's large transactions enter the exchange is the project team is selling ETH coin in exchange for funds. Recently, ETH's large capital flow is indeed frequent, and people can't help but start thinking about whether there is a project team because the financing amount is declining with the ETH price drop. In order to normal operation of the team, it is necessary to change to cash to avoid risks and keep the team running normally. .

In addition to triggering the outflow of funds from the blockchain project team, the mining team was also nervous. The famous f2pool mining pool owner Shenyu has recently released the price of mining machinery, which can see that the closing price of the ETH mining machine is around 800 yuan. The price of an ETH is from three to four thousand to one thousand, and the profits of miners are constantly being compressed.

Source from Citicoins: The eth market has started to pick up slightly since the plunge on Wednesday. On the eve of the next SEC's next bitcoin ETF deadline, market excitement may start to pick up and follow the price, although today's fall to $200 may break the resistance and let ETH fall further.

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