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 $93 million in “unrealized profits.”
“[R]ather than suffering because of the recent fall in the value of Ethereum, at the macro level, the projects appear to have already sold almost as much Ethereum as they raised (in US$ terms),” BitMEX and TokenAnalyst summarize, adding:
ICO investors face testing times this year, the research coming hot on the heels of data from Diar, which concluded 70 percent of projects “are now valued at less than what was raised during their ICO.”
“Outside the Top 100 cryptocurrencies being traded, there is a $5 Billion shortfall against the total amount raised during an ICO for the 562 tokens with reliable information about their fund-raising,” Diar researchers wrote September 24:
“7 out of 10 tokens that are sitting below the screen fold have valuations that are now under their initial raise.”
“As a tool to raise funds, the ICOs have clearly been a phenomenal success, to such an extent that even a further significant fall in the value of Ethereum will barely make a dent into the success,” the BitMEX report added.