What’s Up With That Ethereum Price Y’all?
The Ethereum price is holding strong, isn’t it? We’d even say it’s holding damn strong (is that swearing?).
Anyway, it’s not good to focus too much on the price. We believe in the technology.
I suppose the price itself is kind of like gambling. Maybe that’s why we’re interested in it so much. 🙂
Ethereum is a platform with great potential. We know that. But really, at the moment, there isn’t much you can do with Ether.
So what’s with the ‘market cap’ over a billion dollars? It seems to be driven largely by speculation on the Ethereum price. You could argue that’s a type of gambling.
The Ethereum price, what a strange mistress…
The DAO hack weakend the price, as you’d expect…but only quite temporarily.
Now we as a community are stuck in this tit-for-tat with the hacker. He drains some funds, then the white-hats come in with a counter attack. Then he does a counter move again.
Through all of this the Ethereum market cap has managed to more or less stay above $1 billion.
Even the price of the DAO is holding up incredibly well. It was in free fall for most of the day after the news of the attack cleared.
I suppose the market is expecting an hard fork to eventuate and for everyone to get their Ether back. That seems to have been factored back into the price of the DAO, which has recovered a lot in the last 48hrs.
What an exciting week it’s been. I am sure they will make a movie about this one day.