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Ethereum (ETH) Price Dips: EOS (EOS) Event Responsible for the Drop




Ethereum has just had an obliterating experience in the market when ETH tanked in the last 48 hours. It all began with the EOS main net being launched. The team behind EOS decided to give up their ETH stash, so they went on with selling all of their ETH units out. The mass selloff was organized on Bitfinex, which is one of the biggest exchanges in the market, The mentioned ETH units were sold in the course of only a day. The mass selloff made some Ethereum holders more than disappointed.

What Happened to Ethereum?

Ethereum managed with breaking the price of 800$ per one unit once again almost a month ago, which was at the same time the best price that Ethereum has had in the market for the past couple of months.

However, we can now see the second-best crypto in a different light as ETH dipped against the dollar in the last 48 hours for over -8% while trading in the red.

That means that Ethereum started to drop against the dollar despite the market trend that was active over two days ago when all the currencies were trading in the green while trying to bounce off during this short period of time.

The reason for this notorious dip wasn’t another rough market current bringing dips and price cuts.

According to several0 financial analysts and TrustNodes, which is a prominent site focused on technology, EOS is to blame for the latest dip of Ethereum.

Apparently, to celebrate the release of its own main net, the team behind EOS decided to organize a massive selloff where they managed to sell the units of ETH they were holding.

The sale was organized on Bitfinex where a great portion of ETH units owned by EOS was sold as a part of a massive selloff in the spirit of releasing their own main net.

According to TrustNodes, EOS has purchased over 900 million dollars in ETH units, which is information collected from a data feed analyst web spot called Santiment. Santiment provided the information about the initial purchase of ETH tokens while also stating that the purchase occurred around the beginning of May.

Celebrating the launching of their main net, EOS decided to organize a major sell-off of these tokens, which immediately resulted in having Ethereum significantly dropping, in addition to dropping against the dollar due to the latest market trends.

As a result of the major selloff, the trading volume of Ethereum went 9 times higher on Bitfinex but has lowered its price as a consequence.

In addition to having a major drop of over -8% against the dollar, ETH was already struggling due to the sluggish state in the market, so we could see ETH dropping from being traded at the price of around 700$ to being available at the price of 549$ which is currently the case.

One of the analysts following up with this case noted that the public seemed to have underestimated the effects of ICOs on Ethereum – there startup companies with their ICOs will eventually want to cash in on their investments, so they would be able to finance their projects further towards the mass adoption in the real world.

Ethereum just ended up at the bad end of the rope, that’s all.

How is Ethereum doing at the Current Moment?

It seems that we haven’t seen any particular progress in the market for ETH in the past 30 days as ETH seems to be trading in the red on all charts except for the 60-day chart.

On the day of the massive selloff, ETH went down by over -8%, while we can still see it dropping almost three days later, although at a lower rate.

Following the latest change in the market that took place in the last 24 hours, ETH is still seen while dropping against the dollar, going down by -2.49%.

After the most recent change in its price, ETH can be traded at the price of 549$ per one unit.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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