First signs of the hard fork taking effect on Ethereum!

jordivictorjordivictor Posts: 1Member
edited July 2016 in Ether Sale

https://steemit.com/ether/@jordi-kicken/first-signs-of-the-hard-fork-taking-effect-on-ethereum

Hello everyone!

All the discussions are over, the Hard Fork has passed and Ethereum is ready for a new path. With block 1920000 that has been mined around 15:30 PM, the business has been done. Now for some insight in the price and impact on Ether, i have a few screenshots with some interesting data.

First, here it is! The block we have been waiting for:

image

Source: https://etherchain.org/block/1920000

But what happened to the price?

As said, the hard fork occurred at 15:30 PM, so the foto doesn't really account with the fork but.. As you can see at the time of "forking", it spiked up through earlier set borders. The upward trend was already building up, but this was the discharge. Interesting to see is that the price bump upwards is bigger than the sell-off that occured some moments later.

 image

Source: https://cryptowat.ch/bitfinex/ethusd/15m

And what about the DAO tokens?

Second, DAO Token Holders are withdrawing their Ether at a rate of 1:100. You can see the price bump up to $13.00 (as said earlier), but then, a few moments later it gets drawn to the $11 area, probably some investors that are cashing in Ether. You can see the data of DAO tokens that have been withdrawn on the picture below. After the hard fork, almost 30% of the DAO tokens have been withdrawn. This number will probably push higher in the upcoming days.

image

Source: https://slacknation.github.io/medium/11/11.html

Conclusion

Almost a month of discussion, a lot of commotion, a big move of the Ethereum community and therefore a strong reaction to The DAO hack later. We can say that this has been a hard ride. But now, what can we expect? My sentiment is bullish with only looking to this information. I'm not going to take more information into my conclusion because of the numerous variables that are here. But in the end, there has been a hack and the Ethereum Community did everything to get the dirty apples outside the chain. 

So therefore, i'm going to buy some new Ether!

Comments

Sign In or Register to comment.