The Sunday Chart – ETH Price v New Daily Wallets : ethtrader

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by Nullius_123 Here are this week’s charts (both of which display the same relationship – ETH price vs new wallets): Sequential: https://imgur.com/jXNrozP Note: the sequential version has no time axis – the daily new wallet numbers since January 2017 are plotted in ascending order (in orange), along with the corresponding price data for that day…

by Nullius_123
Here are this week’s charts (both of which display the same relationship – ETH price vs new wallets):
Sequential: https://imgur.com/jXNrozP
Note: the sequential version has no time axis – the daily new wallet numbers since January 2017 are plotted in ascending order (in orange), along with the corresponding price data for that day (in blue, above or below). In this chart time zig-zags back and forth depending on whether the market was rising or falling.
Another dramatic week in the markets. At the rate we’re going, Ethereum will soon have more active addresses than Bitcoin on average – it already does on busy days.

We’re also on track to get back to over a million transactions per day – far more than Bitcoin can manage.

see – https://coincenter.org/entry/no-ether-is-not-a-security
The “Venture Capital Working Group” – a group of well-known names from the Silicon Valley investment community – have met with the SEC and proposed that the government allow a “safe harbor” for select cryptocurrencies, classifying them as “utility tokens” rather than securities. Bitcoin seems to be exempt from this discussion because no BTC were ever distributed or bought from a central organization.

The same is not true of ETH, which held a “pre-sale” (what would now be called an ICO) back in 2014. Clearly, very many coins would be in dire straits if the SEC are strict in classifying which of them meet the definition of a “security”.
There seem to be two ways this could go: tough , in which people get arrested, firms close down, and the crypto market (except for Bitcoin) tanks; or soft , in which exchanges are given time to comply with regs, a couple of coins are given “safe haven” status (and probably rocket in price), and the whole space moves towards something that looks a bit more like the current ETF environment. Note that even in this second scenario, many coins would likely see a huge contraction, unless they are traded in sufficient volume on foreign exchanges. Moreover, if the SEC choose conflict, this will almost certainly be in the courts for some time, with possibly huge revenue implications for the Treasury, so you’d think a measured response would be the best way to go here.
Another potential downside that could derail us is the possibility of another Ethereum hard fork – to recover the funds lost in the Parity contract that was locked, accidentally it seems, by a hacker last year.

Nick Cannon (always worth reading) has the story here: https://ethereumprice.org/will-there-be-another-contentious-hard-fork/
But on the upside, and despite these rather ominous clouds on the horizon, it does appear that professional money is flowing into crypto – the divergence between the wallet line and the price line on the temporal chart suggests that fewer wallets are handling considerably greater volumes. See also –

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