Ethereum (ETH): Price Weakness Comes with Sliding Hashrate
Cryptovest
Published Sep 10, 2018 03:40AM ET
Updated Sep 10, 2018 05:00AM ET
Ethereum (ETH): Price Weakness Comes with Sliding Hashrate
The Ethereum (ETH) global supercomputer is losing its power, as miners have been gradually abandoning the network in the past few weeks. The Ethereum hashrate has gone down to the lowest level for the past three months, sliding to 257 TH/s. Since March 2018, the Ethereum hashrate has been relatively flat, moving between roughly 250 and 290 TH/s, signifying uncertainty after growing much faster in the first three months of 2018. This coincided with the accelerating slide in ETH market prices.
The Ethereum network exhibited a series of troubles, including periodic congestion . This factor, combined with the realization that Ethereum distributed apps had very few users, was one of the bearish factors exposing the fact that the Ethereum Virtual Machine may have been overhyped.
The continuing skepticism finally led to an unraveling in market prices. ICO projects, which...
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Written By: Cryptovest
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