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Bitmex Report: ICOs have allocated $ 24.2 billion in tokens in turn

The Bitmex Research team worked with TokenAnalyst to take a closer look at the balance sheets of several ICOs on the Ethereum network. The two teams released a report showing that the ICO teams gave them $ 24.2 billion of tokens.

$ 80 billion in peak value

The Bitmex and TokenAnalyst report goes on to state that this figure has fallen to $ 5 billion due to current market conditions. There is also an additional $ 1.5 billion token transfers that happened far from the ETH addresses of these teams. The report assumes that these tokens have been "deleted". In addition, the report indicates that these tokens would have a valuation of $ 80 billion using the peak value of each digital asset.

$ 5 billion from nothing

According to the report, the current valuation of $ 5 billion tokens owned by teams of these ICOs can be considered as obtained from nothing.

Based on the current illiquid spot prices, ICO teams still seem to own about $ 5 billion of their tokens, basically money obtained from nothing, depending on the view.

At the same time, teams could have made $ 1.5 billion in revenue by selling coin-based tokens that left cluster of team addresses.

Although this figure may also be overestimated, coins may have left the cluster of team addresses for a variety of reasons.

Notable ICOs mentioned in the report

The report continued to highlight the token assignment for teams of different ICOs. They include Veritaseum (VERI), SingularityNet (AGI), Polymath (POLY), Kin (KIN), Dent (DENT), Gnosis (GNO), Maker (MKR), Telcoin (TEL), IoT Chain (ITC) and QASH.

What are your thoughts on the search for Bitmex indicating that the ICO have allocated 24 billion tokens for themselves? Let us know in the comments section below.

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Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.

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