Analysis: Ether holdings of ICO projects gradually falling

Ethereum • August 1, 2019, 9:52AM EDT
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Ether (ETH) holdings of projects that raised funds via initial coin offerings or ICOs have been steadily declining, according to research from The Block.

We analyzed 57 ICO projects, and on average, each of them has liquidated or moved around 2,500 ETHs (~$530,000) per month over the past 12 months. These projects raised 8.2 million ETHs in total. Of that figure, 5.9 million ETHs (or 72%) has been either moved or liquidated since the launching of an ICO. 

Decentralized CPU power developer Golem Network and blockchain platform Tezos were the two largest movers. Golem transferred 138,000 ETHs to the Golem Foundation, while Tezos moved 60,700 ETHs into four separate wallets, where the funds are still intact.

Some other projects seem to be dipping into their ETH treasury balances to pay for operating expenses,  while they likely have some cash reserves to fall upon too.

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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