Published on September 15th, 2017 | by bitcoin0
Bitcoin and Ethereum are starting to crack
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The last year has seen an astonishing boom in the two most popular cryptocurrencies: bitcoin and ether—the latter being the currency of the Ethereum network.
Bitcoin has fallen to $3,000—an 18 percent drop in 24 hours and down by 40 percent from the start of the month.
In recent months, hundreds of projects have introduced new cryptocurrencies that compete with Bitcoin and Ethereum or use the concepts they pioneered to tackle other problems like file storage.
Most initial coin offerings were conducted in Bitcoin or ether, and a number have been for coins built directly on the Ethereum platform.
Accordingly, the ICO boom pumped up the price of Bitcoin and Ethereum.