Why are Ethereum Prices Dropping Drastically?

In January 2018, the highest price of Ethereum (ETH) reached $1335. Ethereum is also touted as the second Bitcoin. However, this crown must be revoked last month when the Ripple (XRP) price jumped. Now, the ETH price is at$ 225. The decline in the ETH price is not without reason, see below why the ETH has dropped dramatically.

Ethereum network

Ethereum is used by many companies not because cryptony money is good, but they need the network. The Ethereum network is used as a platform for developing decentralized applications. Whoever you are, wherever you are, you can use a smart contract as a sign of a colleague or transaction. However, this also did not last long because there were companies that matched the ETH business structure, namely EOS. EOS is faster than ETH and cheaper. A few months ago, someone who was disguised as Vitalik Buterin on Instagram and cheated 37 ETH. This shows 100% decentralization is impossible as happened in Ethereum.

Value of Proposition for Ethereum

The company does not require ETH for the Ethereum network. Users and investors gradually replace ETH to EOS because this one crypto (EOS) is better. EOS is also one of the strongest competitors for the Ethereum network.

Vitalik Buterin denounced ETH

He said that the collapse of the ETH could not be avoided anymore, Vitalik listed this on the Reddit forum. Vitalik also said that the Ethereum market was history. A few days ago, Vitalik tweeted on Twitter that he might leave the Ethereum team because "Ethereum can walk without him," Vitalik wrote on Twitter.