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BitMEX Research, the search arm of the BitMEX cryptocurrency exchange, has published a piece in collaboration with TokenAnalyst that has analyzed the token assignments of over 100 ICO teams. According to the analysis, the ICO teams initially assigned $ 24B of their native token to themselves. At peak valuation, these token allocations were valued at over $ 80 billion. However, BitMEX Research notes that "in reality, liquidity was too low for this value to be realized". Moreover, due to the precipitous decline in securities in market value, these allocations are currently worth $ 5 billion.
In conclusion, BitMEX Research estimates that the ICO teams profited nearly $ 13 billion from their ICO process "with very little work, accountability and transparency," adding that while ICOs proved to be "extremely tempting" for the project's founders, the results for investors "I have not been so attractive."
