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According to Trustmodes, ICOs have sold 416,000 ETH in November, the highest amount within a monthly period since summer.
Previously Santiment reported that in August, around $40 million worth of ETH were liquidated during the month with nearly 100,000 ETH sold by projects that raised funds through an Initial Coin Offering (ICO).
Far less than some periods during January-March when ICOs sold 630,000 ETH within just one day on the 27th of March 2018 as our general analysis showed earlier this year.
It is worth noting that Ethereum price went down 94% since the beginning of the year.
The major Ethereum «bears» among ICO projects are SingularDTV, Aragon and Kyber.
Ethereum browser startup Status.IM is actively selling Ethereum after the announcement that it is cutting a quarter of its staff due to the ongoing downturn in cryptocurrency prices. Announcing the move internally on Monday, co-founder Jarrad Hope said that the startup is much larger than can be sustained due to the fact that the company did not anticipate ethereum’s price dropping more than 80 percent. Ethereum is currently trading at $86,7.
Earlier, Diar analysts stated that ICO is unlikely the contentious fund raising mechanism, at least in its current unregulated format, to garner much interest moving forward with regulated tokenized securities platforms paving the way for a new realm of finding investor capital.
Initial Coin Offerings (ICO) are all but over with November seeing total raised funds at $65 million. ICOs in 2018 have raised over $12.2 billion but have now petered out from regulatory backlash fears, as well as a slow-down in cryptocurrency markets with token prices plummeting leaving retail investors with a bitter taste.
From The Observer: Since 2008, the wealth of the richest 1% has been growing at an average of 6% a year – much faster than the 3% growth in wealth of the remaining 99% of the world’s population. Should that continue, the top 1% would hold wealth equating to $305tn (£216.5tn) – up from $140tn today.