Over 400,000 ETH Left ICO Team Wallets in the Past Thirty Days, Data Shows

Published at: Dec. 17, 2018

Initial coin offerings (ICO) have been transacting Ethereum (ETH) at breakneck speed, with over 400,000 ETH moving out of wallets in the past 30 days alone, according to data from crypto assets data and software development firm Santiment published Dec. 17.

Ethereum moved out of ICO teams’ wallets Nov. 18 - Dec. 17 2018. Source: Santiment

Santiment’s data sample notably does not track the ETH “all the way to exchanges,” with the metric therefore not a hard and fast confirmation that the ETH has necessarily subsequently been sold: Santiment thus qualifies the data as a “suggestion” of “possible selling activity.”

Santiment’s three-month chart for ETH leaving ICO team wallets reveals a significant uptick in outgoings over the preceding 30 days, as compared with data from mid-September to mid-October, and from mid-October to mid-December:

Ethereum moved out of ICO teams’ wallets Sept. 18 - Dec. 17 2018. Source: Santiment

Santiment gives a breakdown of the specific wallets in its sample, ranking the ICO teams according to the amount of ETH “spent” over the thirty-day period. According to its rankings, SingularDTV — a blockchain platform for the entertainment industry — came top out of a total of 39 projects, “spending” 60,370 ETH since mid November: the team wallet still holds around 165, 000 ETH, having reportedly raised an initial 585,430.62 ETH in its token sale.

Ethereum wallet balances. Source: Santiment

Other major ICO ETH “sellers” this past month are Aragon (50,000 ETH), Kyber Network (47,290 ETH), Friendz (40,870 ETH) and Status (40,000 ETH).

The two ICO projects with the highest ETH holdings in Santiment’s sample — DigixDAO and Golem — have 395,430 ETH and 369,020 ETH respectively: neither have sold any ETH over the past thirty days.

According to a study from ICO analysis firm ICORating in mid-November, not only are ETH outflows seemingly on the rise, but the sector overall saw a decline in initial funds raised in the third quarter of this year. ICORating’s data indicated that Q3 2018 saw 597 ICOs raise over $1.8 billion, a notably lower value than the over $8.3 billion reportedly raised in the previous quarter.

In the United States context, analysts of the recent trends have pointed to the crackdown on the fundraising model by the U.S. Securities and Exchange Commission (SEC) putting “hundreds” of projects at risk, and lingering regulatory ambiguity.

As of press time, ETH is trading at $91, up around 4.4 percent on the day, but close to 50 percent down on the month, according to Cointelegraph’s Ethereum Price Index.

Tags
Ethereum
Altcoin
Ico
Related Posts
BitMEX CEO: Ethereum ‘Will Quickly Test $200’ When ICO Market Returns
Initial coin offerings (ICO) will return within “18 months” and Ethereum (ETH) will “rebound aggressively,” BitMEX CEO Arthur Hayes told Cointelegraph Japan Dec. 26. BitMEX is a Seychelles-based cryptocurrency trading platform that has become one of the largest trading platforms in the world by volume. Speaking in an exclusive interview, Hayes forecast a return to form for 2018’s “dead” ICO markets. “The use case for Ether is primarily ICOs. That market is dead right now,” he said, adding: “Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing …
Bitcoin / Dec. 26, 2018
September ICO Market Overview: Trends, Capitalization, Localization
Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The ICOmeter aims to provide the accurate and concise information about the development of the ICO market in the previous month, and its relation to the all-time statistics. The ICO market data is provided by ICObench, based upon the projects’ announcements recorded in ICObench database, which includes over 4600 ICOs since August 2015. In the last 12 months, the ICO market has shown a fluctuating trend, reaching two peaks, both for the number …
Ethereum / Oct. 16, 2018
BitMEX Research: ICOs ‘Have Sold Almost as Much as They Raised’
Initial Coin Offerings (ICOs) have almost broken even on funds sold versus funds they raised, new research by Hong Kong cryptocurrency trading platform BitMEX revealed Monday, October 1. The findings, compiled in partnership with crypto analytics resource TokenAnalyst, further suggested that despite Ethereum’s (ETH) price decline in 2018, ICO projects still had $93 million in “unrealized profits.” Further, the research states, net profits “realized” by ICOs that successfully closed comes to $727 million. “[R]ather than suffering because of the recent fall in the value of Ethereum, at the macro level, the projects appear to have already sold almost as much …
Ethereum / Oct. 1, 2018
Research: ICOs See Lowest Funding Level in 16 Months
Funding for Initial Coin Offerings (ICOs) has seen its hardest slump in 16 months, Bloomberg reported September 10. Analysis from Autonomous Research shows that in August, startups raised $326 million, which is the smallest amount since May 2017. According to Autonomous Research, Ethereum (ETH) blockchain-based ICOs have been recognized as the spark for the ETH price surge in 2017. However, they are currently the purported reason for the currency’s price slide, as some projects cash out to cover expenses amid concerns over a bearish market. The new analysis comes as legislators and regulators globally express concern regarding ICOs. Last week, …
Ethereum / Sept. 11, 2018
ConsenSys’ Ajit Tripathi: ‘Rebellious Teenager’ Crypto Is Maturing
This interview has been edited and condensed. Cointelegraph had the opportunity to speak to ConsenSys’ Ajit Tripathi at BlockShow Europe 2018 about his experience leaving Wall Street for the crypto world, what new ConsenSys projects he’s most excited about, and why crypto regulation changes from country to country. Molly Jane: Could you tell us a little bit more about what ConsenSys does and what your role is there? Ajit Tripathi: ConsenSys is a venture production studio based in Brooklyn, and now we have offices in London, in about 30 countries, including London, Paris, South Africa, Australia, and Singapore — we're …
Blockchain / June 25, 2018