After entering CoinMarketCap on September 19th at $0.1, Ethereum Dark (ETHD) leaped to $5.21 (+5110%) on October 6th, but has since fallen back down to $0.95.
Whilst notably still increasing 950% in the past six weeks, ETHD also lost 80% of its value from it's peak three days ago, shedding another 40% in the past 24 hours. Dreams of the coin "going to the moon" have definitively been put on standby for now, as the coin slides back down to the 380th largest by market cap.
Ethereum Dark's community, as well as investors, are eagerly awaiting a forthcoming announcement promised for yesterday, with many expecting it'll be a listing on Bittrex, or at least hoping some other exchange, in order to give the coin a breath of life.
As the price corrects itself for the third day now, many are questioning the validity of Ethereum Dark, such as it's white paper and more recently claims of news that has yet to be announced. More specifically, there was talk of a Bittrex listing some weeks ago now, with the most recent announcement on October 6th, during the peak of the rally.
And so three days have passed, as has 80% value, but still no announcement.
For those of us who got in early, got profit out while we could, it was a good ride. If ETHD gets listed on Bittex it'll for sure be another rollercoaster of profit. But for now, we are left (invested or not) with a coin that's ultimately the definition of a shitcoin.
As has been expressed elsewhere, some of us even invested fully aware of what it was, and did so knowing that using the name Ethereum - even if it doens't have anything to do with ETH - would be profitable at least in the short-term.
Others involved in the community genuinelly feel this could go far, to Mars or the Moon, but other than because of the name, it's not really clear why exactly. Other than the fact that there is unsurprisingly a growing Ethereum Dark community.
Now we are left with a coin that's already been pumped and dumped, a white paper that still needs redeveloping, with potential future news such as listings on other exchanges.
In the meantime Ethereum is a week away from the Byzantium upgrade that will open the door for implementing zCash's zn-snarks for increased anonymity. This will soon raise questions as to what ETHD provides with a soon-to-be anonymous Ethereum.
Oh, and there's supposedly another airdrop round or two left, but it's unclear if/when that will be. In hindsight, this coin will probably get pumped again on some bigger exchange soon, but won't be worth much in a month or two.
Trade tip: If you're going to invest anyway, as it's relatively cheap and already shed of most of it's profit, then buy in Bitcoin and sell in either Litecoin or Ethereum, ideally using Cryptopia. As seen below, paired with these popular altcoins, ETHD can be as high as 50-100% in comparison to BTC, particularly with LTC.
Currently, compared to Bitcoin, ETHD-ETH is 48% higher and ETHD-LTC a staggering 91% higher. If the buy orders weren't so high with ETHD-BTC on Cryptopia you could be having fun all day with this one. Hopefully Bittrex will resolve this issue, in order to buy at a reasonable price, exchange for Bitcoin, then sell for twice the amount with LTC, and repeat.
