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Ether Holdings Of ICO Projects Not To Affect Crypto Rate: Analysts

Published: 02/10/2018
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What is it for?

The team of BitMEX Research, a research division of the same-name crypto exchange, has published an analysis of ether assets of more than 200 ICOs. The experts concluded that the holdings of these firms will not affect the rate of ether, as the projects completed their initial coin offerings in 2018 and sold most of the tokens for fiat.

According to the report, 222 ICOs attracted a total of $5.5 billion investments in ether. Later, they sold most or all of the crypto reserves for nearly the same amount, with a relatively small difference of several million.

 

To date, these startups hold about 3.8 million tokens, which are equal to $0.87 billion at the current rate of ether.

 

In particular, firms earned $727 million at price hikes by selling tokens at a higher rate than the one which was relevant at the time of investment. In December 2017, the price of ether rose to a record $1400 but soon fell by 85%. The researchers suggest that such a sharp correction made startups sell their investments "in a panic". With the current rate of $228 per one ether, projects are more likely to profit than suffer losses from the sale of the remaining tokens, the analysts stated.

 

Filecoin takes the highest position among the top 20 ICOs that earned profit from the sale of ethers. The startup managed to gain more than $135 million thanks to the changes in the token rate. The “successful” list also includes such ICOs as Golem, EOS, and TenX.

As previously reported, the founder of TechCrunch refused to conduct ICO in the United States, preferring Asia.

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