Forwarded from Cointify | Blockchain & CryptoCurrency
A Deeper Fireside Analysis of ETH held by ICOs and it's impact on the price
The fluctuations of value in the crypto markets can have direct impact for treasuries of projects that raised millions in ICOs at the beginning and throughout the year, so the author had a deeper look into the data and tried to find a few reasons for Ethereum’s performance and what it means going forward.
Few Key Points from the article:
1. ETH is Not Under a Significant Sell Pressure from ICOs.
2. ETH’s Price Decline Happening Primarily Due to Sentiment and Decreased Demand for ETH.
3. The ETH decline is more due to the BitMEX futures/swap launch. BitMEX perpetual swap contracts are cash settled and enormously popular, offering up to 100x leverage.
4. Significant Amounts of ETH Still Held by ICO Projects (around 10% of total ETH supply).
5. Smaller Scale ICOs Might Perform a firesale (liquidate), But Their Impact is Limited.
Link to the full article HERE
The fluctuations of value in the crypto markets can have direct impact for treasuries of projects that raised millions in ICOs at the beginning and throughout the year, so the author had a deeper look into the data and tried to find a few reasons for Ethereum’s performance and what it means going forward.
Few Key Points from the article:
1. ETH is Not Under a Significant Sell Pressure from ICOs.
2. ETH’s Price Decline Happening Primarily Due to Sentiment and Decreased Demand for ETH.
3. The ETH decline is more due to the BitMEX futures/swap launch. BitMEX perpetual swap contracts are cash settled and enormously popular, offering up to 100x leverage.
4. Significant Amounts of ETH Still Held by ICO Projects (around 10% of total ETH supply).
5. Smaller Scale ICOs Might Perform a firesale (liquidate), But Their Impact is Limited.
Link to the full article HERE