Ethereum yesterday recorded over 400,000 transactions, a new milestone for any public blockchain, and around 40,000 higher than Bitcoin’s record day.
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Even with high transaction volumes, but this haven’t caused much movement in Ether prices though. Ether have been pretty stable at around $300 over the last week. In the past, Ether prices usually very tightly follow Bitcoin’s, almost immediately following its ups and downs. Last 2 weeks seems to be an exception, though, and there are a few possible reasons for this.
First, investors want to be part of the Bitcoin rally we’ve seen over the last few days and are moving their Ether and other alt coins to exchanges to sell for Bitcoin.
Second, so many new coming Ethereum-based ICOs is affecting the price, because people sending their ETH to get into these projects.
Finally, on top of this, there is market manipulation, or we call “whale games,” with the big players keeping the prices down.