Much of the ICO boom in 2017 was driven by massive surges in ETH prices — with scammers, aspiring technologists choosing the Ethereum protocol to issue their tokens, and reap some profits off the frenzy.
At the time, currently available stablecoins were either not popular or didn’t exist, meaning token holders had to sell their holdings to either ETH or BTC, and then convert to USD to fully cash out.
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