Date: 9 months ago   Category: Economy

Efirium's price fell up to $185: why air loses more than other cryptocurrencies?


On Sunday, September 9, Efirium's price, has fallen to the lowest level this year - 185 dollars.

Before that, during the last mass sale in the cryptoforeign exchange market, on September 6, with volumes which have exceeded 2,7 billion dollars in the last 24 hours Efirium's price has begun falling towards to a mark of $200 that has caused sharp criticism in cryptocurrency community and unfavourable forecasts concerning a bigger falling.

Since July is observed continuous depreciation of air in comparison with other main cryptocurrencies that has led to the fact that the price fell below a mark of $200.

at the end of 2017 the price of ETH has exceeded a mark of 1500 dollars, and investors of tokens of ERC20 under the Efiriuma protocol have received to 10, and someone and 100-fold income from the initial offers of coins (ICO).

Investors in tokens, such as EOS, Ontology, ICON, Zilliqa and 0x, have got huge profits at the end of 2017, at peak of the cryptoforeign exchange market.

However for the last several months the price of tokens of ERC20 has significantly fallen. If the bitcoin has lost 70% of the cost in relation to dollar. Ontology and ICON have received 75-80% of losses in bitcoin and more than 95% against dollar.

Most of analysts of the cryptocurrency sector have explained reduction of prices of air through projects on ERC20 base which have attracted millions of dollars in ETH in the primary offers of coins.

As the price of air has begun to fall, and the cryptoforeign exchange market has come on a long bear track, analysts have said that the ICO projects have begun to sell the savings to ETH thanks to what air is exposed to more intensive decrease, than other main cryptocurrencies.

Is obvious that the solution of ERC20 projects to sell large volumes of ETH is caused by panic, and it promotes a trend to reduction of price of ETH.

at the beginning of this week the co-founder of Augur, Joey Krug, has answered some critical remarks made by investors of cryptocurrency community because of the decision of the Augur team to sell ETH at $0,7 for financing of work of the project.

of Krug has said that Augur sold all tokens of ETH which it has received from the initial offer of coins, at once after ICO end, for financing of the project, having added that Augur isn't hedge fund, and the project which works on creation of the difficult decentralized system.

If sold to Augur the share at the end of 2017 when ETH has reached $1000, then instead of $700 000 of Augur it could earn one billion dollars.

of Krug has emphasized that investors of ICO don't invest the capital for a blockchain projects such as hedge funds and to maximize the resources for creation of the successful decentralized program or the protocol.

Linda Xie, the adviser 0x and the cofounder of Scalar Capital, has told that her team advises the projects directed to liquidation of ETH after sale of their tokens for financing of operations. The Augur team have made the correct thing and I advised others

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