Ethereum falls below $100—down 93 percent from its January high

Some of the most successful blockchain startups to date have been exchanges like Coinbase that enable users to trade cryptocurrencies and conventional money.

And unless and until that happens, we may continue to see the value of cryptocurrencies continue to go down over time.

Virtual currencies surely have some value as a hard-to-trace store of value and a way to conduct illicit transactions, but the sky-high valuations of the last year were based on the assumption that blockchain technology would have broader uses.

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