A pretty savage sell off in ETH over the last few weeks, dropping from a high of $408 USD on the day of the record breaking BANCOR ICO to a low of just $204 USD last night, that's a drop of 50% in just 15 days. Oversold perhaps? Have a look at the charts for ETH in both USD and BTC. There are some similarities. Both are showing a double bottom formation with volume at an established key level, followed by a rally over the last 10 hours that has gone on to make a higher high than was made between the lows. Looks to me like a decent technical indicator that the selling might be over for now. I'm thinking that perhaps some of those big ICOs might have finished cashing out their ETH to fund their projects and the bull run in ETH might resume? DYOR
plenty more ico's in the pipeline to send it even lower, maybe you have caught the falling knife for now.
ICOs send it up during the crowdsales....and down afterwards as the projects liquidate for cash. So, to the contrary, your ICOs in the pipeline are just as likely to push it UP in the short term.
http://www.zerohedge.com/news/2017-06-28/ethereum-soars-30-tops-300-after-wef-blockchain-report More about fundamentals than technicals, but perhaps it explains the technical pattern with strong support at the key level.
I was looking at Ethereum's blockchain size and was a bit stumped by the size. Ethereum's blockchain is currently 78.5GB, but last i checked it was growing at 43MB per day (9.37 KB per block x 4590 blocks in last 24hrs) which is about 15.7GB per year. Ethereum's first block was mined almost 2 years ago to the day and it's been only the last 6 months where it's getting a lot of traction. So you can assume in the first year it's blockchain would have grown at a much smaller rate. So if currently it's growing at 15.7GB per year (based on current 24h trend) how is the blockchain 78.5GB? I'm clearly missing something, can someone please help me understand. info from https://bitinfocharts.com/ethereum
The block size is dependent on the amount of transactions taking place and the gas price, so you can get big blocks or little ones 9.5 KB might be an average but it has been up to at least 90 KB or so at times. https://ethereum.stackexchange.com/questions/1106/is-there-a-limit-for-transaction-size/1110#1110
Ok the numbers they are saying on that site would makes more sense. But over here https://bitinfocharts.com/comparison/ethereum-size.html they show nothing crazy going on with the blocksize on average. The average is all you need to know as it's the number that if constant would represent the total size. So if there was a 650, 3 and 8KB block then the average would be 220.3KB. So the fact that there was a high one wouldn't matter. The chart seems to be showing the average blocksize per 24hrs. The stats on the site i linked seems to add up fine with Bitcoin and Litecoin. I still haven't fully got my head around Ethereum.
I'm not sure though if that includes all the erc-20 tokens riding on top of the Ethereum blockchain though or just the ETH blocksize itself. The network/blockchain itself carry's all the Tokens built on top of the platform and all their transactions as well, hence the gas/transaction price increase and slowdowns with the current ICO craziness. http://www.coindesk.com/ethereums-erc-20-tokens-rage-anyway/
yea i see what you're saying. I wonder if there is anywhere that will show the full split on whats what. Then maybe it's like Segwit, where it's split up as a separate thing, but with Ethereum it still puts it all in the overall blockchain.