Ethereum (ETH), the second cryptocurrency of the world by market capitalization and one of the most popular thanks to its blockchain technology, has plummeted by more than 20% in recent days. This fall is the result of a public statement by an official of the Securities and Exchange Commission (SEC) in which the spokesperson acknowledges that there are more than a dozen ICO investigations based on this cryptocurrency (Ethereum – ETH).
Ethereum (ETH) Price
At the moment of this article, the Ethereum (ETH) is trading at $543.37, which represents a slight recovery of only 8.66% in the last 24 hours.
Yesterday, Ethereum (ETH) closed at $538.64.
Ethereum (ETH) has been in a continuous drop since February 17th, a little more than one month ago, when ETH has been traded at $974.12 (also representing the highest ETH value against the USD in one month).
Thus, Ethereum (ETH) has dropped about $430 in one month.
Ethereum (ETH) may continue its downtrend
It is not yet known what exactly the Securities And Exchange Commission officials are referring to when they say the Ethereum (ETH) is under investigation but it seems that there are apparently some irregularities surrounding the Ethereum (ETH) and some ICOs based on its blockchain.
The Twitter account @WhalePanda tweeted this morning referring to the whole issue of Ethereum (ETH) and its collapse.
WhalePanda, a known influencer on cryptos, twitted that:
Since people are always trying to look for explanations on why there are dumps… Why did $ETH dump so hard? Some ICOs/big holders trying to get rid of it because of the ongoing investigations or other information we don’t know yet?
It is likely that the decline will continue as the SEC continues its investigations and stopped once the waters calmed down in terms of massive sales. For now, we remind our readers that the ecosystem is volatile and subject to changes without forecasts, so that Ether and any other cryptocurrency may experience movements in their values for various reasons.
In conclusion, it seems that due to the SEC statements, the Ethereum (ETH) has massively dropped.
Erin VanDyke lives on her family farm and has more than 35 years of hands-on experience with the use of livestock guard dogs for predator control. On their farm, Jan and her family use corgis as herding dogs and have raised Shetland sheep, Fainting goats, Morgan and Trakehner horses, and historic breeds of chickens and turkeys. Erin is also an active beekeeper.