Gemini exchange's first Ether event in fact draws no investors' interest.
Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen
Despite the fact that these are very troubled times for Ethereum as a whole, Gemini exchange has decided to experiment with ETH/USD auctions. These allow institutional investors to purchase large amounts of cryptocurrency with U.S. dollars.
Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements
The first auction took place last night and attracted very little interest. As reported, only 90 Ethers were sold during the auction. The first Bitcoin auction, in comparison, raised over US$1 million.
Reddit users, as ever, do not remain silent. According to some of them, the auction volume will not pick up anytime soon.
Ethereum is shit mate, why are you so surprised over this?
By such statement the user tries to argue that with prices falling, there is no reason to buy Ethereum right now until the markets stabilize.
However, this is just the very beginning and whether or not the Ethereum auctions will be successful remains to be seen.