Poloniex fed with 50 Ethereum orders - ICOs getting their cash
I'm just looking at the Sell Orders on Poloniex and notice regular 50 Ethereum orders spaced evenly out (I couldnt time it to get a pic of multiple 50s).
So why the sudden selling? Theory of many including Cliff High is that after big ICOs asking for ethereum like Paytoken, Veritaseum and others since, the ICOs themselves sell the ethereum theyve exchanged for their tokens. Why well they need the money to do what they promised in their whitepapers.
So as soon as you see popular ICOs taking place its good to get out a few hours earlier out of Ethereum and buy up after their selling; as Ethereum pops back up. However you need to keep an eye out of when the next ICO dump is coming. And to do this go to https://www.coinschedule.com or https://www.icocountdown.com
Those 2 sites give you time to prepare so you can gain from an ethereum dump and profit by buying low and selling high.
Source of image: www.cryptocompare.com (ehtereum)
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STOPNo need to worry, it's a speculation that may even end up badly for the whale :)
Not worrying just trying to profit when theres a sale
Very true. Fundamentally ETH is looking strong. Able to handle more transactions now, Korea uptake of ETH, more and more Coin/tokens building on ETH. But the price has been struggling compared to the other big ones which defies some of the TAs out there because this turbulence is being driven by real world factors due to those ICOs.
Great points and thank you for the links too.
Thank you for visiting. Cheers
ICO's are a great funding tool, but the Ethereum foundation should come up with some guidelines and standards for these. Maybe lock the funds in some sort of escrow with a monthly withdraw amount pegged to USD over 48 months. If you have a startup you vest your shares over several years to provide incentives to those building the platforms. I have no research or proof to back up the assertion, but it seems to me many of these ICO's might be instantly dumping more ether than is necessary to fund development. Some of the ICO platforms are great ideas, but I don't think any of them are 50+ million dollar software development effort.
While it's certainly not the Ethereum foundations job to do due diligence for ICO investors. They should look to establishing some near-term guidelines before this becomes a more serious problem. These guidelines would not stop ICO's that don't follow the guidelines from happening, but they will lend reputability and make the ones that do more trustworthy.
Promoting a more trustworthy internet is directly in the mission & vision statement of the Ethereum foundation. These ICO's are representatives of the Ethereum platform as a whole and they should be scrutinized before launch.
Every platform will have issues. Bitcoin had problems scaling for the past 2 years and I believe the ICO dilemma without guidelines will be Ethereum's version of a platform problem. It won't be the tech, but governance and bad actors will impact the platform without some hoops to jump through to be "trusted"
Correct and even if they do need the money you dont go dumping all of it in a day or 2 on the exchanges. Maybe phase 1 they need 10 % of the money and sell that much etc