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Author Topic: Will ETH dump even more due to PlusToken?  (Read 470 times)
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December 20, 2019, 01:27:48 PM
 #41

Do you know what has undeservingly fallen into the shade? Although the Ethereum price has been falling, the blockchain itself has been a success. According to the report from DappRadar, every dapp category has grown significantly either in daily activity, user base growth, or both. Thus, the Ethereum blockchain has been the most popular one to deploy decentralized applications on. Every cloud has a silver lining, I guess.
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December 20, 2019, 01:33:08 PM
 #42

Do you know what has undeservingly fallen into the shade? Although the Ethereum price has been falling, the blockchain itself has been a success. According to the report from DappRadar, every dapp category has grown significantly either in daily activity, user base growth, or both. Thus, the Ethereum blockchain has been the most popular one to deploy decentralized applications on. Every cloud has a silver lining, I guess.

I agree, this will come to pass and Ethereum will eventually recover, they are not in the second spot in the market for nothing I see Ethereum reaching more milestone this 2020 if this is the year of Bitcoin because of it's halving, Ethereum will have a shares of achievement this, they have been tarnished by these bad ICO's, but they will be back in their feet.
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December 20, 2019, 01:55:00 PM
 #43

Do you know what has undeservingly fallen into the shade? Although the Ethereum price has been falling, the blockchain itself has been a success. According to the report from DappRadar, every dapp category has grown significantly either in daily activity, user base growth, or both. Thus, the Ethereum blockchain has been the most popular one to deploy decentralized applications on. Every cloud has a silver lining, I guess.
But here is the fact, ETH is dumping because of this even though it has not started yet. Growth, adoption will not relieve our fear of dumping because they hold a lot of coins that could affect the market. There is no doubt the price will recover after the dump, but we do not know when will this going to stop and happen. We do not know when will they are going to sell their token on the market, it will definitely affect the price and trigger the dump.

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December 20, 2019, 02:05:31 PM
 #44

If they dump it will be an golden opportunity to buy eth at cheaper rate, it's just a shame that plustoken went scam, it was huge and too many people get scammed, we need regulation fast
Yes, for ETH tokens, we are not afraid to buy them at cheap prices, because the potential price increases are always there, and those who like ETH tokens are also very numerous, so it is very obvious that ETH token trading is always in all crypto markets.

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December 20, 2019, 02:09:12 PM
 #45



I think that we all got victimized by it by them keeping the prices down pretty effectively. Yeah, it will most probably affect on eth prices as well it most probably have affected in btc prices. One would hope that they would get caught but as they haven't yet been caught, it can be too late in the effect of protecting the price.
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December 20, 2019, 02:10:52 PM
 #46

If they dump it will be an golden opportunity to buy eth at cheaper rate, it's just a shame that plustoken went scam, it was huge and too many people get scammed, we need regulation fast
Yes, for ETH tokens, we are not afraid to buy them at cheap prices, because the potential price increases are always there, and those who like ETH tokens are also very numerous, so it is very obvious that ETH token trading is always in all crypto markets.
if you see from the like factor then it will not be able to influence the ethereum price movements can be seen from the increasing demand and usage, if more and more use ethereum then there is still hope to make a profit in ethereum.
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December 20, 2019, 02:35:46 PM
 #47

I really feel sad for those who are directly got scammed this PlusToken scam. Its affecting the whole crypto community by creating a panic in the market. Sometimes I feel that we need a strong regulation on these new projects.
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December 20, 2019, 02:38:02 PM
 #48

Wait? Ain't it the other way around?

https://cryptoslate.com/plustoken-scammers-could-be-behind-the-recent-pump-moves-100m-in-ether/

They say here that it was the PlusToken which is the reason for the pump of Ethereum. A $105M worth of Ethereum.
It was BTC which is hurt and not Ethereum. Correct me if I am wrong.


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December 20, 2019, 02:48:18 PM
 #49

Yes, they are selling their coin in the market and the crypto world has already seen what it does to the market in one day. A trader should be careful about major coins out there. There could be more dumping coming if they didn't sell their whole balance yet.

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December 20, 2019, 03:00:15 PM
 #50

I mentioned it in the diffrent discusion. But I am sure that it will affect the price. Imagine the pressure when market is full of cheap Ethereum coins. It is almost 1% of total supply, if they dump it at once, we will see Ethereum under 100USD level.  Cry

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December 20, 2019, 04:30:00 PM
 #51

ETH is still the second largest coin in the cryptocurrency market, lots of fans and investors investing in ETH. However, during the recent time ETH has encountered many difficulties, the reputation of this coin is lower. If the development team does not solve these difficulties, I think that the price of ETH will continue to decline.
In this case, it would be a disaster for ETH if the number of tokens was released on the market.

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December 20, 2019, 05:20:37 PM
 #52

A huge number of ether (ETH) tokens have just moved from a wallet associated with the PlusToken Ponzi scheme. More than $105,099,000 worth of the native crypto asset of the Ethereum network moved between the wallet and an unknown one earlier today.

The Twitter account Whale Alert (@whale_alert) highlighted the huge transfer this morning. The total number of Ether moved was a massive 789,525 ETH.


Source link here

This is something that we feared the most, unless you are a buyer waiting for your buy order to be filled.

Whale Alert keeps monitoring the wallet that are being used by PlusToken, and it's now being moved to an unknown wallet.

I remember that time when I was in Singapore, one weird looking guy approached me and introduced me to PlusToken. As what I have seen in their compensation plan, I immediately moved away and said "No, I'll pass!". Ponzis are not for me.

I just feel sorry for those who are being victimized by PlusToken.
I think it's legitimate if it is considered a marketing strategy used by ETH, in the end of 2017 I campaigned on a token involving ETH, but after seeing the numbers you put there I was worried that it was a scamm, because in my experience I had never thought of that much, even though can happen with the smallest possibility


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December 20, 2019, 06:38:13 PM
 #53

If they decide to sell such a huge amount of tokens, it is surely possible that ETH will drop further and finally reach 50 bucks per coin. It would be awful, but what you can do, if such guys are earning money in ponzi schemes using ETH.
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December 20, 2019, 06:48:41 PM
Merited by percy_tc (1)
 #54

Don't think such transactions will affect the market. Do you really think they will sell this sum for BTC or USDT on some exchange? Smiley
Such operations are usually made manually - by private exchange deals.

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December 20, 2019, 06:59:37 PM
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December 20, 2019, 10:39:24 PM
 #56

Do you know what has undeservingly fallen into the shade? Although the Ethereum price has been falling, the blockchain itself has been a success. According to the report from DappRadar, every dapp category has grown significantly either in daily activity, user base growth, or both. Thus, the Ethereum blockchain has been the most popular one to deploy decentralized applications on. Every cloud has a silver lining, I guess.
What's the relationship with dapps? in this case we are talking about the possibility for plus token to create a panic sell like what happened with bitcoin a few days ago.
Even when the dapps adoption has growth and it doesn't mean if they are all will be using ethereum. Remember they are all having their own token or assets.
more than 800k ethereum is about to be dumped to the market and this will give a huge impact just like a flash crash for ethereum.
That's not related to the dapps adoption or even development. dapps is exist to adopt its token to be useful on the platform.

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Perfect35
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December 20, 2019, 11:09:53 PM
 #57

History has always shown that if a coin is obtained in a dubious way and sold, it usually cause a form of shake in the market, because it is more or less like dump.
Meanwhile, this does not last for long. If there Iran eventual dump, it will come back to normal within a short period of time.

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December 20, 2019, 11:20:43 PM
 #58

Don't think such transactions will affect the market. Do you really think they will sell this sum for BTC or USDT on some exchange? Smiley
Such operations are usually made manually - by private exchange deals.
This takes place through private deals which is the truth. As here the plus token is associated with the massive fund moving this could've caused small change in the market of ethereum. Right now it doesn't look like a moving to manipulate the market as it is already bleeding heavily. The dump is happening continuous for a long, to the same this ponzi does its role.
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December 21, 2019, 12:08:58 PM
 #59

it might touch $80(flash dump) if they decide to dump it at once but they will not do that because they can get more money by selling it bit by bit. if they are selling it bit by bit, at most the market will touch $100 or $90, I am saying this because the market does not look that bad right now. unless we are seeing another dump on bitcoin, if not it will be at most around my prediction.
with the total eth that they have, the possibility of price foundation can be shaken forever only by them.

maybe not under $ 100 unless their OTC off-ramp transaction moves smoothly with several commands at once, I think they won't be too hasty. we all still monitor when they will carry out a real reaction, or it will only affect the recurring retracement pattern.
this is impossible, they will not be able to shake the market forever because they have a limited number of coins. they only have around 789,525 eth, it is not even 1% of eth circulating supply. only time can recover the price and fix this.

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December 21, 2019, 12:40:56 PM
 #60

This is always happen of dump price in the end of the year.
Not only ETH. Bitcoin and others Altcoins dump in this month.
ETH price now is ±$125 in the market. I hope ETH will enough in that price and don't dump until the beginning of 2020.
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