ICOs Sold 160,000 Ethereum Over the Past 10 Days

[kittyho101]

In the past 10 days, Initial Coin Offering (ICO) projects have sold three times more Ethereum (ETH) than they did in August, according to research by TrustNodes published September 13.

The 160,000 Ethereum tokens sold over the past few days amount to $33 million, according to the price index at press time. Per TrustNodes, ICO projects sold 82,000 ETH on September 4, which was followed by a sharp decline in crypto markets.

Average daily ETH sales from ICOs varied from 1,000 to 5,000 coins in August, with occasional sales around 10,000 ETH. In contrast, the same amount of 10,000 ETH became a far more common daily sales volume in September.

According to TrustNodes, the total amount of Ethereum sold by ICOs over the past 30 days now amounts to 283,000 ETH, which is almost $60 million at press time.

Citing crypto data provider Santiment, TrustNodes states that the highest share of ETH sales from ICOs is attributable to the Digix ICO project. Digix’s paper value Ethereum holdings amounted to $150,000 million, which is significantly higher than the current total market capitalization of DigixDAO coin, which is $69 million at press time, according to CoinMarketCap.

Earlier this week, Cointelegraph reported that funding for ICOs have seen its hardest decline in 16 months. In August, ICO startups raised $326 million, the smallest amount since May 2017.

Ethereum-based ICOs have been outlined as the main factor for the recent ETH price decline, as some projects withdraw their funds in order to cover costs amid concerns over a bearish market. Today, Ethereum skyrocketed almost 20 percent with an intraday high of $214.18, after plunging below $170 earlier this week, its lowest point in 2018.

Also today, Sonny Singh, the CCO of global crypto payment processor Bitpay, argued that altcoins “will never come back” to their previous levels. Singh said that institutions adding financial products like crypto ETFs will be the main drivers of a bullish trend in the market and they are “not going to launch altcoin products, they’re going to launch Bitcoin products.”

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[Datsuc13]

I don´t consider this a price dump. People need to realize this is a marathon not a sprint.

[Yindian]

This makes people wonder why the ICO team sells Ethereum at the same time. I think Ethereum is still very dangerous now. Although it rose 20% yesterday. Now I can't predict the future of Ethereum.

[Sergey69ay]

The equilibrium price of ETH is 12 USD! Always remember about it.  Moreover, every year 18M of ETH are added into the circulation - that is 17% inflation rate for 2019 year (now we have 100M ETH issued). Only in the 2060 year, the inflation of ETH will reach about 2%. So think twise begore buying eth for 180-220.

[mummybtc]

What I see here is greed on the part of the ICO team, they want to turn to fund managers instead of being a dvelopers, everyone was expecting the price of Ethereum to hit $2000 but now under $200. I think when a team ask for lets say $20 million, they should convert at least half of the fund to fiat, so that they don't have to worry about the price of crypto for upto 2years of their ICO but that all want to mulple their crypto holding

[Piskeante]

icos received coins to finance their activities. They were not in for the tech, just for the money, so, the moment they saw noone was holding, they dumped the coin because they didn't even believe on ETH technology.

[BTMgoMoon]

What I see here is greed on the part of the ICO team, they want to turn to fund managers instead of being a dvelopers, everyone was expecting the price of Ethereum to hit $2000 but now under $200. I think when a team ask for lets say $20 million, they should convert at least half of the fund to fiat, so that they don't have to worry about the price of crypto for upto 2years of their ICO but that all want to mulple their crypto holding

The problem I am thinking about is not the greed of the ICO team. I think people are greedy. It's nothing but I wonder why they also sold Ethereum at the same time. Did they receive the same news? The market is still being manipulated.

[hantianchang0@163.com]

When these scam ico teams complete the dump, I think Ethereum will be healthy again, and it seems that the dump is nearing the end.

[Black Coffee]

big sales to ethereum are indeed done by many ico, developers fear this bearish trend continues and they lack funds to develop the project. as a result the ethereum price collapsed and this also caused all erc20 tokens to be affected. I hope this big sale will end soon, so the erc20 token can also experience good growth.

[Haynes]

I don´t consider this a price dump. People need to realize this is a marathon not a sprint.

It's really a friend if this is Marathon and keeps all the coins running for the best.
If the market is down then all the coins turn into FIAT and when it rises, all FIAT marathons will again become coin cryptocurency.

[saponetes]

Therea was/are a lot of scam ICO projects, lots of them. And scammers from scam ICO´s just want to get Ethereum and sell it fast to run to the next car agent and get their Lambo. It is very sad see people being scammed by shitty projects....

[bumbazaka]

I do not think that this is about the new bull run in the market. People accumulate tokens thinking about the new run in the future

[talkbitcoin]

don't be fooled by some of these numbers. many of them are in fact fake because real investors have already left the market and there are only currently the newbies left who are trying to gamble a little in this market.
these high numbers are either fake or the team is laundering their money by staging some public fake ICO and running the money through it.

[rasulibragimavic]

I think that this is the wrong decision because the price has fallen very much and sell it is not an option ! Need to buy keep.

[tycsols]

These are really large sell volumes considering the overall volume of eth but personally i think that due to this selling eth seems to have bottomed out and as soon as these big sell orders go away we can expect sharp rise in prices and a bounce by eth.

[Nivia1st]

so basically the ICO is one of the reasons why ethereum prices can't rise. in this one ethereum can be developed until now because developers. use the ethereum platform to make tokens, they also fill other ones that destroy ethereum, because they are dumping (selling ethereum they get when launching the ICO).

[Ulya63]

This is the Achilles heel of this coin named ethereum but also its advantage. The bigger the ico project attracts eth, the more the coin will fall, the team will decide to sell it later. This is good and bad at the same time.

[Adecrypt83]

This is one of the main reasons that's making Ethereum price not to be stable. There is a need for a competitive crowdfunding platform like Ethereum in order to reduce the burden on Ethereum. I hope very soon,very soon Wave will fit into the position

[satgoldan]

Stocks have a very interesting property - it end sooner or later. Therefore, I do not see any reasons for panic here, on the contrary, it is good. All the dumpers will simply leave, they will not have what they can sell  

[devormity]

Whatever happens it will not change very quickly, it doesn't panic because it's just speculation from various people, some fake ICOs use little tricks to benefit from various movements, I don't believe what's being talked about, without clearer data than that.