By June this year, the price of Ethereum has risen from less than $10 to just under $400. This 3,900% growth rate has been attributed to various factors including the general euphoria surrounding cryptocurrencies. However, for Ethereum in particular, its half-year growth spurt was mainly driven by the increasing launches of ICOs.
The impact of ICO money on the price of Ethereum is clear, as can be witnessed on the cryptocurrency’s price charts. All through the first half of the year, when ICOs were booming, ethereum’s value rose right along. The inverse can be observed in September when both the PBoC and South Korea’s authorities banned ICOs.
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