More than fifty ICO projects have sold 125,000 Ether (ETH) in the last month, statistics show.
Data collected by SANbase found 57 ICO projects collectively sold 125,218.34 ETH in the last thirty days; this value would be worth over $ 400m at yesterday's opening price.
SANbase is a platform that allows users to access and share cryptocurrency data. Established in the first quarter of 2017, it defines Ether sold through funds sent from a project portfolio to an exchange; this does not automatically mean that ETH has been liquidated, according to the project methodology.
Among the major sellers included the cryptocurrency exchange COBINHOOD (COB), which sold 25,630 ETHs since mid-July; the IoT security protocol, Atonomi (ATMI), has sold 12,000 ETHs.
The decentralized exchange platform 0x (ZRX) sold 1,500 ETHs and Kyber Networks (KNCs), 2,000 ETHs. Other high profile projects include the Propy (PRO) real estate platform, which has sold 1800 Ether and Quarkchain (QKC), peer-to-peer encryption, which has sold 2650 ETH over the past 30 days.
Ether is a popular option for ICO contributions, with many projects requiring ETH in exchange for participation. Although some projects have still managed to reach their funding target, such as Telegram, coin bidding has been less successful recently; Investor enthusiasm declined as real yields were lower than expected.
Ether suffered a downward trend from the beginning of May. Since it reached $ 822 on May 5, the ETH price has lost around $ 200 each month. It was worth about $ 440 on July 15th, or 30 days ago; worth $ 266 at the time of writing, a 40% drop in price.
One of the companies that sold part of its stock of Ether, Cofound.it (CFI) – a platform to accelerate the growth of the initial phase of the blockchain – was a shift of funds in their case
"In reality it is very simple," s help CEO and co-founder of Cofoun.it, Daniel Zakrisson. "We have just released our internal treasury management in D2 Capital, in order to offer treasury management services to other encrypted startups, so this move of our ether was actually a change of custodian and rebalancing of the economy. ether with bitcoin, we have not sold anything to the fiat. "
COBINHOOD sells 15,000 ETH in 24 hours
The founders of the Taiwanese exchange, not affiliated with the investment platform Robinhood, announced yesterday that their new venture, DEXON Foundation received a private placement of $ 20 million from the venture capital conglomerate IDG Capital.
A non-profit foundation, DEXON, is a platform designed for the easy development of dApps. Its CEO, Popo Chen, is also the founder of COBINHOOD.
Any mass sales will immediately have an impact on the price of a coin in a stock exchange. The price of ETH was a hit yesterday afternoon, with $ 6 billion canceled from the total value in the 12-hour space.
Although there is currently no suggestion that events are connected, COBINHOOD's Ether sale would have made up the company somewhere between $ 48m and $ 42m yesterday, depending on when exactly they sold and at what price.
The decentralized exchange also launched an airdrop yesterday, which said it will reward COB holders with Ether. If the given ETH actually comes from the COBINHOOD portfolio or if it comes from an exchange portfolio it is not yet known.
– COBINHOOD (@COBINHOOD) 13 August 2018
COBINHOOD did not respond to our requests for comments by press time.
The author is invested in ETH, which is mentioned in this article.