Analysis: Ether holdings of ICO projects gradually falling

Ethereum • August 1, 2019, 9:52AM EDT
The Block

Ether (ETH) holdings of projects that raised funds via initial coin offerings or ICOs have been steadily declining, according to research from The Block.

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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.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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