ICO Team Wallets Lose Over 400,000 ETH

ICO Team Wallets Lose Over 400,000 ETH
ICO News

According to data from crypto assets data and software development firm Santiment, over 400,000 ETH have moved out of ICO team wallets in the past 30 days, transacting Ethereum (ETH) at lightning speed.

The data from Santiment does not track the ETH “all the way to exchanges,” it is not confirmed that the ETH has necessarily been sold out. Hence, Santiment deems the data as a “suggestion” of “possible selling activity.”

According to Santiment’s data of last three months, in past 30 days there has been a significant rise in outgoings of ETH from the ICO wallets as compared to data from mid-September to mid-October, and from mid-October to mid-December.

Santiment provides a classification of specific wallets in its samples and ranks ICO teams according to the amount of ETH “spent” over the thirty-day duration. As per its rankings, Singular DTV, an entertainment industry blockchain platform secured the top spot out of a total of 39 projects.

Followed by other major ICO ETH “sellers” in the past month, which are Aragon (50,000 ETH), Kyber Network (47,290 ETH), Friendz (40,870 ETH) and Status (40,000 ETH).

A study from ICO analysis firm ICORating indicates that in mid-November, the ETH outflows are soaring and the sector overall witnessed a drop in initial funds raised in the third quarter of 2018. According to ICORating’s data, the third quarter of 2018 saw 597 ICOs raise over $1.8 billion, a considerably lower amount than over $8.3 billion raised in the previous quarter.

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