What's going on with ETH? My theory.

[Olatunjex]

I would like to believe this your theory but looking it critically, it seems unreasonable to buy something cheap and sell at a loss irrespective of the motive behind it, there is panic in the crypto world as a whole that is why there is massive sell off.

[1714782387]

1714782387

[hardhouseinc]

Many of my friends sold their eth coins this year but I personally think that eth is valuable so I will keep all my eth coins. I think your theory could be right.

[cubicdissection]

i always prefer to invest in decentralized coins and since xrp is a centralized coin i personally don't like its,and currently ethereum price down because bitcoin is down its price not related with xrp

[Betwrong]

~
fact #1
it is always easier to pump a coin that has a lower price than to pump a coin with higher price.
XRP is worth <10k satoshi while ETH is worth 2.9 million satoshi.
the dump of a coin with higher price is also more severe than a dump of a coin with lower price.

I think that indeed it is easier to pump XRP than ETH right now, but not because of what you said. The price of one coin is irrelevant in this regard. What really matters is the daily trading volume, the higher it is for a coin the harder to pump it. Current daily trading volume for XRP is 291,948 BTC, while it is 677,074 BTC for ETH, and that's why XRP is easier to pump. For example, if you spent 30,000 BTC on buying XRP the impact on its price would be more significant than that would be on ETH price if you spent the same amount on buying ETH.

fact #2
market cap is price * supply
XRP has 40 billion useless tokens in circulation while ETH has 103 million useless token in circulation so XRP should have a bigger market cap! and that is one of the main reasons why it is meaningless.

Yes, Market Cap = Price X Circulating Supply, but it's not that you can create 1 billion, say, SHT coins, sell 1,000 SHT to yourself for $1 each on a small exchange and then your SHT coin automatically gets $1 billion Market Cap. If it was that easy we would have hundreds of coins with over $1 billion Market Cap, and yet we have only 10 of such coins at the moment.

And that is so because:

1. It is not that easy to be listed on CoinMarketCap;

2.

Cryptocurrency Rank is determined by market capitalization but penalizes cryptocurrencies with low 24h trading volume

Source: https://coinmarketcap.com/methodology/

[Ayobami99]

What's going on with ETH?

My theory:

Ripple team and their bankster friends have been buying BTC and ETH during the whole year and are selling at a loss now when it's least expected to maximize the returns on their futures and to pump their XRP in order to take control over crypto land. Because the banks have almost unlimited access to fiat capital they can buy crypto and sell at a loss as long as their XRP and futures are going up. Basically a takeover attempt by the military and banks (the CEO of Ripple is an ex-military and probably still has lots of connections).

Personally I prefer ETH and would never touch XRP.

There has been a lot of speculations about the market status these days,  and i think this is the second time I'm hearing news about xrp... Though i think the whole market is in a deep now because of bch hardfork

[Sab11]

What's going on with ETH?

My theory:

Ripple team and their bankster friends have been buying BTC and ETH during the whole year and are selling at a loss now when it's least expected to maximize the returns on their futures and to pump their XRP in order to take control over crypto land. Because the banks have almost unlimited access to fiat capital they can buy crypto and sell at a loss as long as their XRP and futures are going up. Basically a takeover attempt by the military and banks (the CEO of Ripple is an ex-military and probably still has lots of connections).

Personally I prefer ETH and would never touch XRP.

i dont think that ripple team did that because who person/team on earth buy at high price and sell it in low price just to destroy another crypto for thier own. If its true always remember nothing can beat bitcoin.

[simplelamp]

my theory is, we touch 120 usd, and then we moon hard.. if not, rekt

[target]

Why would they sell at loss? Those guys should have been the most experienced traders of all time as they have been doing it even before crypto. I think they were the poeple pumping last year and dump gradually while they also shill for people to hold and keep on buying at every dip of coins.

[Benarand]

We all remember the huge growth of ETH and the entire market as a whole. The price of ETH has risen to $ 1,400. Why you ask? And all because of the fact that all participated in the ICO. Everyone bought tokens for ETH. So the price grew. This year the situation is completely different. A lot of scam in the ICO, people no longer participate. The need for ETH also fell, Buterin himself said that you can not wait for a 1000% growth.

[Cryptomilz]

The problem with ETH in my opinion has nothing to do with pushing the Ripple agenda nor the accumulation of BTC and ETH by the banksters and dumping at a loss, which I think is foolhardy. Scam and low performing ICOs are the bane of ETH and they've been the reason it's low priced and devalued. We can't forget in a hurry the impact of scam ICOs who accumulation ETH from public sales and cash out to fiat by dumping them at the exchanges. These for me are the underlying issues

[gabmen]

Why would they sell at loss? Those guys should have been the most experienced traders of all time as they have been doing it even before crypto. I think they were the poeple pumping last year and dump gradually while they also shill for people to hold and keep on buying at every dip of coins.

Yeah i don't think it's a good idea selling at a loss and losing big amounts of money for the sake of ripple overtaking ethereum. I mean, yeah it did take the second spot in cmc but that probably won't last very long. I don't think people behind xrp would come up with such short term strategy.

[avonka]

It is an interesting theory and I can imagine that banksters will do everything and use every opportunity to take over the crypto market. But, I think in this case ETH is suffering more as it has not come out with any development upgrades for long and has not solved it`s issues plus the negative market conditions resulted in this crash.

[Eric]

In my opinion only some people converting their coins to xrp because they feel more safe in ripple. Whales created this opportunity with pumping ripple during bear market. But i believe all of these are manipulation. I am sure ripple will be dumped in the future also. Only they are playing games with investors. They are creating some escaping point from market conditions and they will dump it also.