BitMEX Research: ICOs ‘Have Sold Almost as Much as They Raised’

[CebuBitcoin]

Initial Coin Offerings (ICOs) have almost broken even on funds sold versus funds they raised, new research by Hong Kong cryptocurrency trading platform BitMEX revealed Monday, October 1.

The findings, compiled in partnership with crypto analytics resource TokenAnalyst, further suggested that despite Ethereum’s (ETH) price decline in 2018, ICO projects still had $93 million in “unrealized profits.”

Further, the research states, net profits “realized” by ICOs that successfully closed comes to $727 million.

“[R]ather than suffering because of the recent fall in the value of Ethereum, at the macro level, the projects appear to have already sold almost as much Ethereum as they raised (in US$ terms),” BitMEX and TokenAnalyst summarize, adding:


Readmore: https://cointelegraph.com/news/bitmex-research-icos-have-sold-almost-as-much-as-they-raised