400,000 ETH Left ICO Team Wallets in the Last Thirty Days

Data reported by Santiment (the crypto assets data and software development startup) shows that Initial coin offerings have been transacting Ethereum at a quick speed, with some 400,000 ETH holders moving out of their wallets in the last 30 days alone. Santiment is created to keep records of ICO transactions. The thirty-day period began on November 18 through December 17 this year.

Ethereum (ETH) Price Today – ETH / USD

NamePrice24H %
ethereum
Ethereum(ETH)
$0.00-2.08%

Ethereum (ETH) Left ICO Teams wallets

According to the report by Santiment, the firm notably doesn’t track the ETH “all through to exchanges,” hence, the metrics are therefore not an accurate confirmation that the Ethereum has necessarily subsequently been sold. Which is why Santiment qualifies the data simply as a “suggestion” or a “possible selling activity.” Santiment’s ETH’s three-month chart for leaving ICO team wallets shows a significant uptick on outgoings over the 30 days that preceded as compared to data from mid-September through mid-October, plus from mid-October through mid-December.

Santiment Ranks the ICO Teams Based on the Amount of Tokens Spent During a Particular Period

Santiment typically offers a breakdown of specific wallets by ranking the ICO teams based on the total amount of ETH tokens “spent” over the thirty-day period in the case of Ethereum. According to Santiment’s rankings, SingularDTV (an entertainment industry Blockchain platform), came out on top among the total of 39 projects available. The report further reveals that after spending” 60,370 ETH tokens since mid-November this year, the team wallet holds about 165,000 ETH, having raised an initial 585,430.62 coins in the token sale.

Other major ICO ETH token “sellers” in the last month include Aragon (50,000 ETH), Status (40,000 ETH), Kyber Network (47,290 ETH), and Friendz (40,870 ETH). The two ICO projects that recorded the highest ETH holdings according to Santiment’s sample are DigixDAO and Golem. DigixDAO has about 395,430 ETH holdings while Golem holds 369,020 ETH respectively. Neither of the ICO projects has sold any ETH tokens in the last thirty days.

Q3 2018 Saw Up to 597 ICOs Raise $1.8 Billion in Funding

According to one study that analyzed the ICO analysis firm’s ICORating for mid-November this year, not only are Ethereum (ETH) outflows seemingly growing, but the sector overall recorded a decline in initial coin offerings raised in the third quarter 2018. ICORating’s data the following findings regarding ICOs: Q3 2018 saw about 597 ICOs raise the sum of $1.8 billion. This figure is a notably lower value when compared to the $8.3 billion reportedly realized in the previous quarter this year.

In the United States ICO context, analysts had a lot to say regarding the recent trends. Many have pointed to the ICO crackdown in the country as a key force affecting the sector. The fundraising model that the United States Securities and Exchange Commission is looking to implement is putting “hundreds” of ICO projects at risk. This, in essence, means that lingering regulatory ambiguity is cited as another stumbling block for ICO projects.

According to data collected by Cointelegraph, as of the time this content was published Ethereum (ETH) was trading at $91. The digital token is up by 4.4% on the day. However, it is also close to 50% down on the month due to the bear market crash.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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