2 min Analytics

Ethereum’s dropping below $100.

Ethereum’s dropping below $100.

The value of Ether has fallen by 93 percent since its highest level in January, from over 1,400 dollars. The cryptocurrency of the Ethereum network fell below 100 dollars for the first time since May 2017.

According to Ars Technica, the decrease is related to the declining enthusiasm for cryptocurrency in general. Last week, Bitcoin also reached its lowest point in 2018, with a value of around $3,500. Meanwhile, Bitcoin is rising again, but the value is still 80 percent lower than the peak of $20,000 in December 2017.

Investments in blockchainstart-ups continue to grow, according to Coindesk figures. They received more than 597 million dollars in investments in 2016, 876 million dollars in 2017 and, with the end of 2018 in sight, more than 3.1 billion dollars was invested this year. However, blockchain technology is hardly any closer to regular adoption than it was a few years ago.

Consumer applications

Some of the most successful blockchainstart-ups are exchanges such as Coinbase, which allows users to trade cryptocurrencies and conventional money. No one has yet discovered how to build a widespread blockchain-based consumer application.

Until then, connoisseurs expect the value of cryptocurrencies to continue to decline. This is in contrast to the past few years, when it was still assumed that blockchain technology would soon be used more widely.

Related: AWS embraces blockchain with two distributed LED services

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.