ICO’s performance generally includes publishing a coin icon on ETHEREUM, which shows the ambitions of a project on the web site, and the investment seam. “Many projects were more than just a white paper and a broken page with a temporary counterattack – the barrier was in front of the entry.”
Analysts say that although a handful of encryption projects that raised money by ICO is working – including ETHEREUM itself – the boom was large Breakage On this practice. Often, the developers have distorted the benefit and capabilities of their projects, and they manipulated the price of metal currencies to generate noise, and adults on the profits available to investors, as analysts claim.
“The developers were trying to pay the idea of crazy returns,” says Nikolai Sondargard, a research analyst at Blockchain Analytics Nansen.
The bustle about ICOS led to the trusted investors to conduct a little bit of care in their passion for profit, in a similar way to the merchants today The race to the suspicious memecoins. “There are many similarities between the madness of M and ICOS,” says Sondrdard. “It is very easy to sell an idea about the masses, then prostrate it.”
The developer bearing the name Dylan Kerler began promoting EthereumCash, their most popular currency, in early October 2017.
The developer largely followed the same playing book as its previous launch operations: They changed the currency on ETAREM, and they created a website, and they were marketed on Bitcontalk, Twitter and Telegram. To create an enlarged enthusiasm, they delivered the currency packages for free in the so -called Airdrop. Then they promised to publish a white sheet, which was considered at that time a sign of legitimacy that would likely pay the price up.
“You want to pay a white sheet. This is what makes people interested,” says Sondargard. “Sometimes, it was just enough to promise enough white paper.”
The loaded web clips now reveal Telegram how the currency has been presented to potential investors. “We aim to move from the coin, Fiat to the coded currency, as much as possible while preserving the heir (such) of integrity, developed (such),” mentioning the site. Under it, the page appeared a picture of a bank card that allows holders to spend EthereumCash in stores.
Within a few days, hundreds of people participated in the Airdrop ethereumCash, a spreadsheet obtained by wired offers. Meanwhile, Bitcontalk Abzz was with conversation. “Supply) spread the word and make people notice this great distinctive symbol,” books One forum user. By October 19, EthereumCash was The value is increased To about $ 1.3 million.
However, with the celebration of the first investors, behind the scenes, the developer of Dylan Kerler started selling.
In the days after the creation of EthereumCash, the developer handed over millions of units to a variety of coding wallets under its control. One of the coding portfolios, whose alphabetic knowledge begins 0x7f3E2After that it was used to sell large quantities on the market, as it shows CERTIK analysis.
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