Analysts at BitMEX Research believe that ICO projects cannot affect the rate of the major altcoin. Most ICO startups sold the cryptocurrency.
ICO projects are unlikely to affect the cost of ethereum, according to a new report from the BitMEX Research team. Analysts found that startups already cashed almost all of the cryptocurrency they received during the financing phase. Two hundred twenty-two projects for the primary placement of tokens attracted about $5,463 billion, by September 2018 they sold ethereum for $5,452, the difference is $11 million. On the accounts of startups, there are still about 3.8 million ETH, which is approximately $830 million at the average market rate as of October 1. The total profit of ICO projects, which sold the cryptocurrency at a peak price in January, is $727 million. Despite the decrease in the cost of ethereum by 85% in 2018, the unrealized profit of ICO projects at the moment is $93 million.