Why EOS is actually killing the market

[shanem]

The recent crashing of ETH is not merely due to the dumping of tokens by EOS but by all the other ICOs that accepted ETH. The ICO market is pretty dead as there are tons of tokens appearing every day without enough BTC/ETH to sustain the market. I hate to admit it but a good way to stabilise the market is to regulate the ICO market which is currently sucking money out of the crypto market.

[1715650466]

1715650466

[crypt0j0e]

I recently read a report by a trustable source the indicates how EOS, after sucking value from Ethereum during a year, has been selling large amounts to finance its operations and development. The only difference with the rest of the ICOs is the scale.

Just take a look at EOS account and how ETH is routinely sent to Bitfinex, sometimes indirectly. We are talking of several k ether at the time.

https://etherscan.io/address/0x546e864100513cbc499753a8d0e5962a598876b7

https://etherscan.io/address/0xfe652ea0bf0ab6085704c86912661ac914af0852

This is an example of the wall that is keeping the market low, due to companies that launch ICOs but don't really support crypto.

EOS is only one of many companies that raised funds in ETH and converted it back into fiat. All these companies share the blame but due to the massive number of ICOs this year it's only accelerated the decline of the market. I really think there should be a requirement that would prevent them from dumping all their ETH at once.

[Phomology]

From all the ICOs collection Ethereum, EOS probably did have the biggest impact dumping Ethereum. You wonder why actually EOS had to convert Ethereum to FIAT, they collected billions. It’s plausible they were dumping also to hurt Ethereum, fuel the fud and win more people to switch sides. After all, EOS is the most serious Ethereum competitor. Sounds too far fetched?