New Research by BitMEX Shows That 75 Percent of Ether Raised By ICOs Has Been So

[btc_angela]

New Research by BitMEX Shows That 75 Percent of Ether Raised By ICOs Has Been Sold

Ethereum, like the other cryptocurrencies, has experienced a tough year. The coin has lost over 75 percent of its value with its price taking a particular nose-dive in the past few months.

Subsequently, this has seen rumors circulating online on explanations of price. Many suggest that the crash may be due to ICOs rushing to sell their ETH stashes before the coin loses more value.

https://usethebitcoin.com/new-research-by-bitmex-shows-that-75-percent-of-ether-raised-by-icos-has-been-sold/

I'm not surprised by the reports though. There has been a circulating rumor about this already and this report just cemented what other people have been theorising about the recent downward spiral of Ethereum beginning May.

[Baofeng]

Common sense really says that the one who brought Ethereum to its new height is also the one that brought down its price. Sad but true. So to make Ethereum go up again, those ICO needs to hold, but its a total dilemma, how are they going to hold when they need the money to fuel their projects or even pay some of the operational cost?

[o_e_l_e_o]

That's because most ICOs are scams, who just want to dump their ETH for profit as soon as possible.

Worth noting that >70% of this has been due to a single ICO, EOS. EOS is arguably the biggest scam of them all - centralized, vote collusion, inflationary, the majority of the dev team taking their profits and quitting, all masterminded by Dan Larimer, this being his third ICO after he took profits and abandoned his last two.

This will be a recurring theme until idiots learn to stop throwing their money away at trash projects.

[Laxus215]

I thinks EOS is involved in the drastic drop in the price of the ethereum as EOS collected huge amounts of ethereum around 600K Eth from its token sale rounds which they are dumping gradually as they are the main competitors of the Ethereum blockchain. Also there are some small ICOs are also dumping Ethereum as they have to fund their projects progress and give salary to their teams.

[ukloon]

Those who bought ethereum at the top to buy ICO tokens have seen their investment plummet as most ICOs now are well below their initial listing price. Either way they would have been sunk unless they tethered their investment.

[Yaunfitda]

I thinks EOS is involved in the drastic drop in the price of the ethereum as EOS collected huge amounts of ethereum around 600K Eth from its token sale rounds which they are dumping gradually as they are the main competitors of the Ethereum blockchain. Also there are some small ICOs are also dumping Ethereum as they have to fund their projects progress and give salary to their teams.

Right, When EOS started to be a competitor, they silently dumping ETH for months causing the price to fall. And then other big ICO follow suit as well hurting Ethereum even more.

Now EOS has already declared war on Ethereum and might be deliberately sabotaging it by dumping more of its stash and liquidate everything in the next coming months.