{"id":400612,"date":"2019-10-06T21:30:45","date_gmt":"2019-10-06T21:30:45","guid":{"rendered":"https:\/\/wncen.com\/?p=400612"},"modified":"2019-10-06T15:12:33","modified_gmt":"2019-10-06T15:12:33","slug":"icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/","title":{"rendered":"ICO&#8217;s Ethereum Sales May Have Intensified Sell Pressure on ETH"},"content":{"rendered":"<p>Ethereum\u2019s price action has been closely tracking that of Bitcoin and the aggregated crypto markets, but its recent downtrend may not have been simply the result of weak price action, as data suggests that ICOs have been selling a significant amount of their ETH in recent times.<\/p>\n<p>The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late, and these ICOs still hold a massive amount of the cryptocurrency \u2013 which could mean that the steady stream of selling pressure will continue for the foreseeable future.<\/p>\n<h2><strong>Are ICOs the Source of Ethereum\u2019s Recent Losses?<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/09\/17\/ethereum-uptrend-continues-as-analysts-eye-further-gains\/\">Ethereum<\/a> is trading down just under 1% at its current price of $173.70, which marks a notable drop from its recent highs of over $220 that were set in mid-September.<\/p>\n<p>While looking towards ETH\u2019s year-to-date highs, it becomes even more clear as to just how bearish its recent price action has been, as it is currently trading down nearly 50% from its late-June highs of nearly $350.<\/p>\n<p>In a recent research report published on <a href=\"http:\/\/diar.co\/ethereum-ico-treasury-balances\/\" rel=\"nofollow\">Diar<\/a>, data elucidates that Ethereum\u2019s 77% drop from its early-2018 highs has coincided closely with major ICO projects selling a notable amount of the ETH that they raised from token sales during the ICO mania in 2017 and early-2018.<\/p>\n<blockquote><p>\u201cEthereum has dropped 77% in price from the start of last year when ICO treasuries saw massive activity with withdrawals being the highest they ever were this year,\u201d Diar explained.<\/p><\/blockquote>\n<p>They further noted that last November and December were the largest periods of <a href=\"https:\/\/wncen.com\/2019\/08\/15\/the-tether-mafia-control-80-of-supply-should-investors-be-concerned\/\">ETH<\/a> sales from major ICOs, which coincided closely with the bottom of the market.<\/p>\n<h2><strong>Will ICOs Continue Putting Pressure on ETH?<\/strong><\/h2>\n<p>It is important to note that although ICOs have already sold off a significant amount of their <a href=\"https:\/\/wncen.com\/2019\/10\/03\/ethereum-may-drop-towards-160-before-next-uptrend-kicks-off\/\">ETH holdings<\/a>, data shows that they still hold nearly half of the Ethereum that was raised from their token sales, with their January of 2018 wallet balance sitting at over 4.6 million ETH, while their current wallet balance sits at over 2.2 million ETH.<\/p>\n<p>Assuming that the markets continue to express increased volatility, it is highly probable that projects will continue to sell off their Ethereum treasuries to attempt to preserve their capital, which could perpetuate any downtrend experienced by the cryptocurrency in the near-to-mid term.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum\u2019s price action has been closely tracking that of Bitcoin and the aggregated crypto markets, but its recent downtrend may not have been simply the result of weak price action, as data suggests that ICOs have been selling a significant amount of their ETH in recent times. The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late, and these ICOs still hold a massive amount of the cryptocurrency \u2013 which could mean that the steady stream of selling pressure will continue for the foreseeable future. Are ICOs the Source of Ethereum\u2019s Recent Losses?\u00a0 At the time of writing, Ethereum is trading down just under 1% at its current price of $173.70, which marks a notable drop from its recent highs of over $220 that were set in mid-September. While looking towards ETH\u2019s year-to-date highs, it becomes even more clear as to just how bearish its recent price action has been, as it is currently trading down nearly 50% from its late-June highs of nearly $350. In a recent research report published on Diar, data elucidates that Ethereum\u2019s 77% drop from its early-2018 highs has coincided closely with major ICO projects selling a notable amount of the ETH that they raised from token sales during the ICO mania in 2017 and early-2018. \u201cEthereum has dropped 77% in price from the start of last year when ICO treasuries saw massive activity with withdrawals being the highest they ever were this year,\u201d Diar explained. They further noted that last November and December were the largest periods of ETH sales from major ICOs, which coincided closely with the bottom of the market. Will ICOs Continue Putting Pressure on ETH? It is important to note that although ICOs have already sold off a significant amount of their ETH holdings, data shows that they still hold nearly half of the Ethereum that was raised from their token sales, with their January of 2018 wallet balance sitting at over 4.6 million ETH, while their current wallet balance sits at over 2.2 million ETH. Assuming that the markets continue to express increased volatility, it is highly probable that projects will continue to sell off their Ethereum treasuries to attempt to preserve their capital, which could perpetuate any downtrend experienced by the cryptocurrency in the near-to-mid term. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":397464,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[6664,8323,1946],"class_list":["post-400612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-crypto","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>ICO&#039;s Ethereum Sales May Have Intensified Sell Pressure on ETH<\/title>\n<meta name=\"description\" content=\"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; will it stop anytime soon?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICO&#039;s Ethereum Sales May Have Intensified Sell Pressure on ETH\" \/>\n<meta property=\"og:description\" content=\"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; will it stop anytime soon?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-06T21:30:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-06T15:12:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cole Petersen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cole Petersen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\"},\"author\":{\"name\":\"Cole Petersen\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/6c4271c7295c2e60c3c46d945f26fd87\"},\"headline\":\"ICO&#8217;s Ethereum Sales May Have Intensified Sell Pressure on ETH\",\"datePublished\":\"2019-10-06T21:30:45+00:00\",\"dateModified\":\"2019-10-06T15:12:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\"},\"wordCount\":393,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg?fit=1000%2C666\",\"keywords\":[\"crypto\",\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\",\"Ethereum\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/\",\"name\":\"ICO's Ethereum Sales May Have Intensified Sell Pressure on ETH\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg?fit=1000%2C666\",\"datePublished\":\"2019-10-06T21:30:45+00:00\",\"dateModified\":\"2019-10-06T15:12:33+00:00\",\"description\":\"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; 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He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.\",\"url\":\"https:\/\/wncen.com\/author\/colecpetersen\/\"}]}<\/script>\n","yoast_head_json":{"title":"ICO's Ethereum Sales May Have Intensified Sell Pressure on ETH","description":"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; will it stop anytime soon?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/","og_locale":"en_US","og_type":"article","og_title":"ICO's Ethereum Sales May Have Intensified Sell Pressure on ETH","og_description":"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; will it stop anytime soon?","og_url":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2019-10-06T21:30:45+00:00","article_modified_time":"2019-10-06T15:12:33+00:00","og_image":[{"width":1000,"height":666,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg","type":"image\/jpeg"}],"author":"Cole Petersen","twitter_card":"summary_large_image","twitter_creator":"@newsbtc","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Cole Petersen","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/"},"author":{"name":"Cole Petersen","@id":"https:\/\/wncen.com\/#\/schema\/person\/6c4271c7295c2e60c3c46d945f26fd87"},"headline":"ICO&#8217;s Ethereum Sales May Have Intensified Sell Pressure on ETH","datePublished":"2019-10-06T21:30:45+00:00","dateModified":"2019-10-06T15:12:33+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/"},"wordCount":393,"commentCount":0,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg?fit=1000%2C666","keywords":["crypto","ETH","ethereum"],"articleSection":["Cryptocurrency Market News","Ethereum"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#respond"]}],"copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/","url":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/","name":"ICO's Ethereum Sales May Have Intensified Sell Pressure on ETH","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum\/icos-ethereum-sales-may-have-intensified-sell-pressure-on-eth\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/shutterstock_1030451626-6.jpg?fit=1000%2C666","datePublished":"2019-10-06T21:30:45+00:00","dateModified":"2019-10-06T15:12:33+00:00","description":"The treasury sale of ETH from ICOs could be a significant force that has been suppressing Ethereum\u2019s price as of late; 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