With so many ICOs gathering Ethereum funds in 2018, it is no wonder some are cashing out. While in theory ETH could be used to simply allow the app to function, there is also the rationale that the coins are a potential source of cash for operations.
The Ethereum market price slid well below $400. ETH has since recovered slightly, but is still down more than 60% from its peak values. ETH lost more than 23 since last week, to $391.69.
So far, the effect of EOS has been noticed, as the project continuously gathers ETH in daily auctions. The ICO will not need ETH for gas purposes in the future, and sells off some of the coins.
But now, the crypto community is looking closely at projects. Due to the transparency of the Ethereum blockchain, it is easy to see when an ICO moves funds from their main wallets.
In a recent tracking effort, a special Twitter account now monitors wallets for most ICOs: One of the projects that recently moved coins, presumably to sell, is Mysterium: The Mysterium project, aiming to offer anonymity services for online presence, has been aiming to expand its team. But most of the efforts of Mysterium are concentrated around promotion and expanding the presence on conferences and through other chances to present. Read more from cryptovest.com…
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