Topic: ICOs CashOut Ethereum In October-November (Read 206 times)
Before the current market situation, ICOs naturally held their ETH from token sales and even when did exchange it for fiat to pay some bills and other costs that can't be done in crypto, we usually we don't know. But 2018 in general has seen an unprecedented amount of ETH being moved to exchanges in exchange for fiat, and large percentage of this was done by scam ICOs
This is just showing us the fact that it is not actually just the newbies or neophytes that can panic but even many of the people who are already in the cryptocurrency market quite well. These people in the ICO market panicked and sold their hoard of Eth because they do not know exactly where is the bottom for this dip. And this same cycle is happening many times in this market and industry. The ideal of hodling is not anymore a big practice here...and am convinced that only fools are holding in this dip...people like me.
Maybe most of ICO's don't see this to happen or they have back plans when this events occurs. Not all are really selling offs, everything who involves in crypto space are affected, ICO's or projects are selling ETH holdings to pay their employees fund their project these market pressure will test them on how tough and good they are in managing business.
The stability of the ETH value is getting crazy its not clear where ALT is going,this time ETH is being hit by a value disaster which is increasingly being aside from some of the bids in the market and large disbursements that occur this time but I think this ALT struggle still very long terms.
too bad because there are many developers who sell eth that they get from ico, they should have known the fall of this market and have analyzed it to get a plan and anticipation, so they don't get stuck or sell eth at a cheap price.
ICOs have been liquidating their tokens for a while now. ever since the ETH dump began they started jumping ship. the wisest ones and those that had their funds ready to dump, dumped them in the beginning when the price was still pretty high to get the most amount of profit out. but the less wise ones who were also caught up in the ETH hype held on and lost a lot of money and eventually panic sold their tokens to exit.
it has not yet ended...
it has not yet ended...
I see here that the need for token has been decreasing together with the ICOs dramatic downfall. This has caused damaging effect on ethereum. Though, this might be good for the reason that only fundamentally strong token will be left and hopefully not affected much.
ICOs have been liquidating their tokens for a while now. ever since the ETH dump began they started jumping ship. the wisest ones and those that had their funds ready to dump, dumped them in the beginning when the price was still pretty high to get the most amount of profit out. but the less wise ones who were also caught up in the ETH hype held on and lost a lot of money and eventually panic sold their tokens to exit.
it has not yet ended...
it has not yet ended...
I agree with your observation and I guess it will not be stopped until the first quarter of this month as I still see a lot of ethereum based ICO finishing in the month of January and February and these are ICO that generated or have reached softcap, people are asking when will this end dumping eth after this ICO company collected funds.
Nearly 70% of the ICO project uses ethereum as a fund for its distribution but this action is very unfortunate that it does not provide valuable potential for ethereum. and my hopes for the future in early 2019 the price of ethereum can be high again through other means
I don't really agree with this, it might be the other way around! ICO's started to sell when they saw the market is dumping! If you explain the EThereum drop to ICO's selling then how you explain Bitcoin drop almost the same percentage of Ethereum! I am not saying that what you said is not true and that what I said is true, I am just wondering if what you said is the real reason for Ethereum drop or it is just a result of Ethereum drop.
Yes, true story mate. Most ICO projects are based on Ethereum network. Accepting Ethereum is easy to deliver the tokens via smart contracts. Finally, project owners are cash out Ethereum. This reason is one of the main reason to dump Ethereum price. Now, most ICOs are accepting Bitcoin too.
Actually , the volume of etheruem cashout is very high. People are surprised at the fall and can't even predict the next market movement and panic sales becomes the order of the day. This is further leading to price fall. However, I believe that 2019 will be a better etheruem experience.
Basically most of the ico's could have saved a lot of money by hiring a finance manager to hedge their ethereum/btc/other coins value a long time ago. Now they are selling at the bottom.
Every project based on ETH had to know what would happen to the funds at the time of the bear market. Probably many projects did not expect such large drops and kept their funds in ETH. The ICO market in 2018 was several times larger than 2017. Projects mainly use fiat money in real life, so they have to exchange ETH for fiat. Probably in November we had an accumulation of ETH exchange from several projects.
Bitcoin can always be the king. Therefore eth on the other hand is just following everything that the current bitcoin market situation is. Ico's are fun of using eth for their projects because of the "stability and solid support from its user" which is now its obvious that eth is isn't stable at all and Ico's are to afraid in taking risks lol
ICOs have been liquidating their tokens for a while now. ever since the ETH dump began they started jumping ship. the wisest ones and those that had their funds ready to dump, dumped them in the beginning when the price was still pretty high to get the most amount of profit out. but the less wise ones who were also caught up in the ETH hype held on and lost a lot of money and eventually panic sold their tokens to exit.
it has not yet ended...
it has not yet ended...
the instability or simply put the volatility of the crypto market space is making loads of people to cash out on their investment and those who seem to have been holding for over a period of time are now disposing off their asset owing to the dip in the market prices. though the ethereum has its own reference point to the bitcoin trading pair but it has more volatile nature than the bitcoin and that has led to people cashing out more on the ethereum option.
November has been a harsh month. Bitcoin went from almost $6,400 down to $3,600 before ending the month at $4,277. By contrast, Ethereum began November at almost $200 before plummeting down to $104 before pushing back up to $119. During that time, ETH lost its number two position on the market capitalization chart to XRP, dropping to third place.
ICOs took note of the falling fortunes of ETH. Diar notes that 170,000 ETH were withdrawn from company coffers over the course of the month. The last week was the most frantic as developers pulled out over 100,000 Ethereum during that time.
https://www.livebitcoinnews.com/icos-withdraw-17-million-in-eth-during-november/amp/
ICOs took note of the falling fortunes of ETH. Diar notes that 170,000 ETH were withdrawn from company coffers over the course of the month. The last week was the most frantic as developers pulled out over 100,000 Ethereum during that time.
https://www.livebitcoinnews.com/icos-withdraw-17-million-in-eth-during-november/amp/
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