We enjoyed a barrage of cryptocoin Initial Coin Offerings (ICOs) the last few weeks. As a matter of fact, some are still ongoing (EOS will go on for almost a year and the Nimiq ICO has high expectations). Many ICOs were or will be structured through Ethereum. This should increase the demand for ETH as buyers need to obtain ETH to participate in ICOs.
Meanwhile, the price of Ethereum has been going down considerably.
It suddenly struck me....
Is the price decrease of Ethereum possibly related to groups of people unloading their bags of ETH to cash the proceeds of their Fluffy coin ICO en masse?
Would love to hear your thoughts.