RATE Group | Gas Ain’t Gold: Why Ether’s Price Could Tank Even If Ethereum Succeeds
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Gas Ain’t Gold: Why Ether’s Price Could Tank Even If Ethereum Succeeds

17 Sep Gas Ain’t Gold: Why Ether’s Price Could Tank Even If Ethereum Succeeds

Posted at 05:33h in Ethereum News by

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Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative.

The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.

The virtuous circle that saw buyers of ethereum-based ERC-20 tokens drive ether’s price above $1,400 mid-January has morphed into its diametric opposite.

The initial coin offering boom has fizzled and the price has sunk to just above $200.

This new phase, a vicious cycle downturn that has exposed the ether market’s intrinsic connection to the ICO boom and bust, is of course painful for anyone who bought ether in the last 12 months.

But in the spirit of encouraging the crypto community to embrace failure as a real-world source of learning and growth, the experience is also incredibly informative for understanding how value is formed and lost in crypto assets attached to blockchain…

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