Study: reserves of ICO-projects are significantly reduced

by in Cryptocurrency News

Study: reserves of ICO-projects are significantly reduced

Analysts of The Block analyzed the development of 57 ICO-projects, which together attracted about 8.2 million ETH. They found that, since the closure of the tokensales, 5.9 million ETH (72%) were either moved or spent.

So, on average, projects spend or move about 2500 ETH per month. Golem and Tezos became the champions among the studied projects. The first transferred 138 thousand ETH to the Golem Foundation, and the second distributed 60.7 thousand ETH to 4 addresses, where they remain to this day.

Some other start-ups appear to be forced to cover part of the transaction costs from reserves, although they do have cash.

Related: First ICO approved in France

Recall that in the first quarter of this year, ICO-projects fees amounted to $118 million 58 times. This number is less than the indicator in the same period of 2018.