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Ethereum’s Price Bounces Back, Question on Need to Convert ICOs

The question on whether to convert ETH ICOs or not has become more relevant as the price of Ethereum bounced back from its year low of 170 USD to over 30 percent. Meanwhile, advocates of ETH have predicted that it is just the beginning of good times for the altcoin.

One of the positive signs is more institutional investors are showing their interest in Ethereum. According to a news report, Morgan Stanley has plans of offering to trade for Bitcoin Swap for its clients very soon. After all, the most important mission of all investment banks is to earn money as well as provide profits to its shareholders.

A majority of the coders understand the underlying language of ETH as a platform for smart contracts. In other words, the cryptocurrency offers a solid and stable platform. The finest projects always contemplate the issue of risk minimization and eventually go for a platform that is most stable.

Lastly, the ICO market for Ethereum is very much alive and active though largely undervalued. However, there are continuous cases of innovation emerging from the ICO space. The Blockchain has emerged as a highly disruptive technology that facilitates ease of value transfer, enhanced transparency, and reduces cost, Crypto New Review wrote.

Relevance Of ICO To Convert ETH Funds Into Fiat Currency

The topic was first raised by a crypto trader host called Ran Neu-Ner. He took to Tweeter and referred to a certain unnamed project in his Tweet. The said project managed to raise an impressive volume of the fund in Ethereum in the month of January this year. The project had only 2 million USD then due to the bear market that lasted for around 8 months.

The discussion about the need of ICO to convert Ethereum funds into fiat currency again came up when a Twitter user called @DoveyWan mentioned about interacting with many projects where a treasury was not used to assist the ICO funds that suffered after the big plunge of Ethereum prices, Chepicap reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Pala Sen is an avid follower of fintech, travel and health updates, current affairs and entertainment news from all across the world and writing is a passion for her. She had been previously associated with the corporate world for several years and holds a degree in MBA and a postgraduate software diploma called GNIIT from NIIT.

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