Is ETH collapse caused by panic selling of all the ETH raised in ICOs?

[Bonsaiav]

Think at all those hundreds of ICOs which have raised millions of dollars worth of ETH each. Some of them, like the scammish Envion, even 100M$.
Now in this bear market they see their wealth evaporate. They need FIAT since they are real world projects and they need FIAT to pay for infrastructures.
So they cannot simply watch at all those millions $ EVAPORATE and jeopardizing their projects.
It is true they have raised Millions $ but now those millions $ are shrinking further and further and so I guess THEY are panic selling and crashing the price.
What do you think?

What you say is one of the main factors that caused the collapse of ETH prices drastically, besides that not a few also ICO which was developed by the scammer to steal investor funds, so this case has caused a decline in the reputation of ETH among the public. But you have to be optimistic because in the future there will be many real ICOs who are struggling to grow ETH prices.

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[puremage111]

Generally yes
Technically no

The reason why i say it is a yes by general but no by technically because the whole market collapse. Not just Ethereum, Ethereum price were tied to Bitcoin as Bitcoin is still the major if we were to compare.

However, aside from ICO dump, and Ethereum price goes bear in terms of BTC, the DAPP network have a great daily volume. People are not leaving Ethereum to other network, i mean some people does but not everyone

So, ICO dump is one of the reason. Bears market is the main reason

[Ria Sakurai]

It's the main reason, many ICO sell ETH in panic make ETH collapse, especially scam ICO, they will sell ETH to get fiat because they are scammers and just need cash for their party in real life. No worry to much about ETH price, it's promising coins and will growth well in the future.