It's absolutely infuriating to see these ICO scammers intentionally or unintentionally (however you feel about it depending on the project) crash the markets by dumping their ETH into the exchanges in such an irresponsible manner.
I've seen several people try to attribute all of the ETH dumping to other parties but don't be so freaking blind. Take a look at the EOS wallet and address it is transferring HUNDREDS OF THOUSANDS of ETH to:
https://etherscan.io/address/0x9937dbb2128b55c44d8af7bf36fd76796a814cf4#internaltxhttps://etherscan.io/address/0xa72dc46ce562f20940267f8deb02746e242540edhttps://etherscan.io/address/0xfba4ee9f16566d048c56893e993188d7b67ac5a9And of COURSE it is a strategic move on their part since they are attempting to replace ETH despite having a working product. The problem is that they are tanking the whole crypto market as people are getting scared and taking their money elsewhere, not to mention the press of the volatility of the space
I know it's naive to think we could do it but can we all just band together and NOT buy into the hype of ICOs like EOS. An uncapped yearlong ICO has NO NEED for that kind money, especially since they are working off a FORKED blockchain. Stop seeing anything but pure greed and consider the overall negative effect on this space. I'm not saying it's only EOS (TenX and Tezos are definitely in the mix) but EOS devs have been the ones doing the recent massive dumps.
Rant concluded.