The Whales Of Ethereum ICO Can Crash The Whole Cryptocurrency Market At Any Time. Generally, The wealthy traders who can almost create a catastrophic fall or raise in the crypto market via single sell order are known as whales. Most of the whales are not yet traders but ICO’s who hold millions of Ethereum coins which is worth almost billions of dollars. According to some researches almost 3% of Ethereum is in the hands of the ICOs. What if they withdraw the amount of coins or what if they sell all there coins it will effects a dramatic fall for Etherum. There will be huge fall for the Ethereum price if the whales sells or withdraws there coins.
The Whales Of Ethereum ICO Can Crash The Whole Crypto Market
On the date of 18th march 2018 Ethereum has taken a huge dip while other cryptocurrencies are trying to get out from the endure. Ethereum price has gone to 464$ from 516$ only under two hours. It was a huge drop for the price of Ethereum in small amount of time.
Before this issue Ethereum had been one of the stable cryptocurrency in the past few years but after this issue its has been one of the worst performers among the top 100 cryptocurrencies yesterday. There has been significant loss for the Ethereum however this isn’t the first fall of Etherum and this isn’t the last one too.
The total amount of Ethereum invested in the ICO are relatively straightforward. The amount of the ICOs are really huge but all of them wont withdraw or sell there coin. If they do the market of Ethereum will definitely gets down dramatically.
The Fear of Ethereum On Crypto Whales
Cryptocurrency is not likely to be as the old traditional finance markets. when thousands of the Ethereum coins were sold instantly the price of Ethereum will get down. Not only the price the other markets which are linked to Ether will also get down.
Traders are observing the every slight movement of the Ethereum on the fear of whales. In the recent times there has been a catastrophic fall for the Ethereum by the Mt Gox whale. After that the traders are being so feared of the whales.
Before the drop of Ethereum on Sunday the EOS has transferred 50,000 ETH to the Bitfinex market.
Almost 3.5% Of Ethereum Is Locked In The ICOs
One of the crypto traders had researched and found that 3.5% of Etherum is locked in the ICOs. This means almost 3.5 billions of coins are under the hands of ICOs. According to the same traders if they ICOs coins holders sells the coins which they are holding there will be a huge fall for the Ethereum.
The Ethereum has been second most used cryptocurrency for so long. If the whales of that coin starts selling it wont be listed in the top 100 cryptomarket anymore but there is a lucky thing for Ethereum if there are any dips for the coin instantly new traders will come and buy the coin then the coin will be increased soon.