- A new report claims ICOs didn’t “panic sell” their raised tokens.
- Although $727 million were made from sales of proceeds, over $93 million still being held.
- EOS owns about half of total Ether tokens raised from public sales on the ethereum blockchain.
A recent report published on the 1st of October by BitMEX debunks earlier reports by news media platforms that several projects sold their ether gathered at public sales out of panic.
The New Research
The BitMEX research team cleared the air on the statement that ICOs sold their ether as a result of drastic fall of ethereum price to reduce the effect of loss on funds raised during public sales. It further reveals that though a good sum of these tokens has been sold, about 3.8 million tokens have been discovered to be held by these ICOs still.
To further bolster the point, BitMEX graphical table shows that over 15 million ether has been recorded to have been raised by a total of 222 projects on the ethereum blockchain.
Nevertheless, these projects, having sold at all-time highs have made an accumulated sum of $727 million from selling a little above 11 million Ether tokens. The research further notes that $93 million worth of tokens is still being held at the moment.
Worthy of note, the report shows EOS claiming a larger share of the total ETH raised combined, raising over 7.2 million ether. All other projects were estimated to have received a little over 7.9 million ether tokens.
Despite a drastic drop in value from the peak with ETH seeing an 85% decline, these projects are still said to be seating on massive gains when compared to the time these public sales were held.
Ethereum And Price Volatility
While many view the ethereum ecosystem differently, ethereum’s founder, Vitalik Buterin believes the days of 1000x gains are over as almost all elites know about cryptos. Nevertheless, he seems not to be bothered about the value, having expressed his thoughts saying the cryptocurrency community shouldn’t be worried about the price but to be more focused on achieving what cryptocurrencies stand for, and other use cases of the underlying technology.