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15 insights on how Ethereum conducted its ICO in 2014

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Let us go through the key features of the Ethereum ICO 2014

Let us go through the key features of the Ethereum ICO 2014

An Initial Coin Offering offering is very similar to the Initial Public Offerings but it is the online cryptocurrency based system where the investors are given tokens in return for their investments. The ICOs have proven to be one of the best ways of crowdfunding to date. Before the ICOs a  particular project or business model was not able to raise enough funds even though it had a great business value.

The main reason being was the lack of reachability to the potential investors along with tiring procedures, but through the Initial Coin Offerings, as the service is completely online and uses the Blockchain Technology, the investors from all around the world can invest in a particular project and the project can gain enough investments for its operation.

The Ethereum Blockchain comprises a unique feature called ‘smart contract’ with sets it apart from other cryptocurrencies in the market. Its application of Blockchain Technology is a little different from that of the one, given by Satoshi Nakamoto.

It is evident that the Initial Coin Offering is capable of raising millions of dollars within a span of few hours itself. The Initial Coin Offering conducted by the Ethereum is one of the examples.

 

Let us understand how Ethereum conducted its Initial Coin Offering in 2014:

  1. The Ethereum ICO was conducted on 20th of July, 2014.
  2. The ICO was closed on 2nd of September, 2014.
  3. The duration of the whole ICO was for 42 days and the total number of tokens were uncapped.
  4. The interesting part is that the funding target was also not restricted to any amount.
  5. It had only one mode of payment for the ICO, and that was in BTC.
  6. Initially, the price of Ether was 2000 ETH for 1 BTC, which linearly increased as the ICO progressed and became 1337 ETH for 1 BTC finally.
  7. Almost 31,529 BTC ($18.4 million at the time) were collected during the Initial Coin Offering.
  8. This made it the second most successful ICO of that time.
  9. It is also the 6th highest crowdfunded project of all time.
  10. However, a part of BTC had to be sold with a 50% loss for the expenses.
  11. However, it is also said that the developmental team of the company lost most of its revenue due to price fluctuations in the Bitcoin price, as a very large portion of the funding was done in BTC.
  12. The value of Ethereum has increased by a number of folds since it’s initiation.
  13. A number of successful projects have been implemented on the Ethereum Virtual machine.
  14. The ICO managed to sell almost 60,000,000 tokens.
  15. The ICO has experienced a profit percentage of about 3900% (with respect to BTC).

 

Currently, the market capitalization of Ethereum is estimated to be around 50,440,159,989 USD and is also regarded as the second largest cryptocurrency in terms of volume. Ethereum Blockchain currently, is split into two, namely Ethereum (ETH) and Ethereum Classic (ETC).

Ethereum basically provides a platform to others to innovate and develop technology on it. All the experts, entrepreneurs, developers and engineers would agree to the fact that considering Vitalik Buterin (who is the creator of Ethereum) as a genius would be an understatement. Some of the experts even speculate this to be the most trending technology and also the most reliable one in order to built applications on it.

Moreover, it is all set to launch a number of new features to its platform, some them including increasing the transaction speed to that of VISA levels and also to handle 1000 of transactions per second in order to meet the real world demands.

Currently, the Ethereum price is around $503.77 and is experiencing resistance at the $520 level and a support at $485.

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#Ethereum

ETH Updates: Ethereum 2.0, Louis Vuitton, Chainlink and Price Analysis

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Joseph Lunbin recently commented on Ethereum 2.0 stating that we will see Ethereum become a 1000 times more scalable within 24 months.

Ethereum is showing a lot of strength currently doubling in price since March. At the time of publication, Ethereum is trading around $250. If the momentum continues, ETH might soon reach the $300 mark too however, the resistance around $280 where the price got rejected earlier is quite tough and may require a few tests before ETH is actually able to break through it.

ETHUSD Price Chart 20th May

ETH/USD Price Chart 20th May

A report came out a few days back that Ethereum Whales hold 1/3rd of all ETH in comparison to Bitcoin where the whales control 1/5th of it. Just 376 people have more than 30% of all Ether. The research did exclude all exchanges. So these 376 people are responsible for a relatively small volume of transactions which is approximately 7% and therefore don’t actually have a strong influence on the price of ETH. However, when these addresses do activate to sell off large amounts, they can actually have large effects on the cryptocurrency markets.

 

Ethereum 2.0 TestNet:

Joseph Lunbin recently commented on Ethereum 2.0 stating that we will see Ethereum become a 1000 times more scalable within 24 months. The time seems longer when we realize how many other blockchains are faster and cheaper than Ethereum and are in one way or another working today but Ethereum does maintain a very strong network effect with massive partnerships, a huge developer community, and various large projects.

The testnet for Ethereum 2.0 has been launched just a couple of weeks ago by Prysmatic Labs with staking implemented. It is just a testnet but it is worth remembering that Ethereum 2.0 is a multi-year effort to create a fully decentralized permissionless platform from programable cryptocurrency and that the move away from Proof of Work must be done correctly as billions of dollars in value are at stake here and retaining high security and decentralization must be adhered to.

 

The key pieces of the Ethereum 2.0 upgrade are as follows:

  • The Proof of Stake switching how Ethereum is mined, how the network is secured and how new coins are created.
  • Sharding: In order to increase scalability and transaction speed by splitting the large database into smaller and more manageable parts.
  • Ewasm: This allows for codes to execute faster among other things as well as expanding coding options and the capabilities for the Ethereum virtual machine.
  • Plasma: This is an extra layer that sits on top of the network that can essentially handle massive amounts of transactions. This is being approached by various teams at the moment. Scaling could be happening way sooner than we expected via Plasma.

All these are just a tip on the iceberg in terms of what’s actually happening in the background right now in terms of building Ethereum 2.0 and there is a lot more happening than these things.

 

Louis Vuitton and Christian Dior to use Ethereum:

In a recent announcement, Louis Vuitton and Christian Dior revealed that Ethereum will be used to verify luxury goods for the fashion giants. ConsenSys has teamed up with the fashion houses and Microsoft in order to build a blockchain powered platform that allows customers to verify the authenticity of their luxury goods. The project is being called Aura.

 

It is based on the Ethereum blockchain & utilized Microsoft Azure and has been designed to serve the entire luxury industry with powerful product tracking and tracing services, and will also offer ethical and environmental information as well as for instructions related to product care and warranty services.

 

Chainlink Update: Oracles to go live

The decentralized oracles are scheduled to go live on the Ethereum mainnet this month. The decentralized oracles are designed to help smart contracts interact with real-world data. A key feature for many smart contracts which are being built that intend to have that crossover into the real world and require that real-world data. This is an important move for both Ethereum and Chainlink as it will be the largest and most reputable

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#Ethereum Price Analysis

ETH to USD, 17th May: Ethereum Price Analysis, About to Crash?

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Ethereum price moved ahead and tested the $280 resistance and later started to correct downwards. ETH is currently supported at $250 and $230 levels.

Technical Indicators:

Support Level: $250, $230

Resistance Level: $270, $275

 

Key Points:

  • Ethereum price moved upwards to test the $280 resistance level before starting to correct downwards.
  • The sellers pushed the price below $270 and $260 support levels.
  • A bullish pattern is being formed on the hourly chart with the support at around $250.
  • It is very essential for Ethereum price to stay above $250 and $230 support levels in order to maintain its upward trend.

 

Ethereum Price Analysis:

SUMMARY: Ethereum price moved ahead and tested the $280 resistance and later started to correct downwards. ETH is currently supported at $250 and $230 levels.

After falling back to the $240 level, Ethereum price started to rise massively and broke above $250 and $260 resistance levels. ETH even broke above $270 resistance level and even tested the $280 resistance level and recorded a new yearly high at around $280 before starting to correct downwards. The bears pushed the price below $270 and $260 support levels. The $250 area acted as a decent support and stopped further losses.

 

Currently, ETH price is facing a lot of pressure around $270 which might push the price towards testing the $250 and even $230 support levels. There is currently a bullish pattern being formed on the hourly chart with the support at around $250. However, if ETH breaks below this level, it might start a downward momentum and move towards $230 below which the overall momentum might turn bearish. The $230 support and the 100 hourly SMA is a very crucial area for Ethereum price currently as a break below this level could turn ETH price towards $200 and even $180 levels.

 

ETH to USD Price Chart 17th may

ETH to USD Price Chart 17th May

The chart shows that Ethereum price is currently struggling to maintain its position above $250 and might soon move towards testing the $230 or even $200 level before it could start a fresh upward momentum. It is very essential for ETH to break and settle above $270 level in order to maintain the bull run.

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#Ethereum Price Analysis

Alert: ETH to USD, 16th May: Ethereum Price Analysis

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Technical Indicators:

Support Level: $260, $255, $245

Resistance Level: $270, $290, $300

Key Points:

  • Ethereum price surged massively in the last 24 hours breaking above $250 resistance level.
  • ETH gained more than 20% and tested the $270 range.
  • A bullish pattern is also being formed on the hourly chart with support around $245.
  • If the bulls remain in action, Ethereum might soon test $300 resistance level.

 

Ethereum Price Analysis:

SUMMARY: Ethereum price picked up bullish pace and gained more than 20% in just 24 hours. ETH tested $270 level and looking at the current momentum, it seems that ETH might soon test $300 level.

 

Ethereum price increased massively yesterday after breaking through the $220 resistance level The bulls took control and broke above the major resistance around $240 and $250 levels. The buyers pushed the price towards $270 resistance level where a lot of sellers were placed and ETH started to correct a few points downwards. However, the $260 level turned into decent support and currently Ethereum price is trading well above this level and the 100 hourly SMA.

 

Ethereum price recorded a high at around $270 and is still in a bullish momentum and ETH might soon break above the level to test the $300 resistance zone. On the downside, Ethereum is well supported around $260 below which ETH might test $255 and $245 support level. Also, there is a bullish pattern being formed on the hourly chart with the support at around $245 which might push the price upwards again. The current resistance for ETH lies around $270 above which the price might surge towards $290 and $300 levels. The $300 level is currently most crucial for ETH.

 

ETH to USD Price Chart 16th May

ETH to USD Price Chart 16th May

The chart shows that Ethereum price is currently moving upwards will a bullish force and trying to break above $270 resistance. The overall momentum is quite positive and ETH might test $290 and $300 levels in the coming sessions.

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