Connect with us

Blogs

ICOs Going for Mass Ethereum (ETH) Sales, Report

Published

on

Ethereum
READ LATER - DOWNLOAD THIS POST AS PDF

The amount of Ethereum (ETH) that is sold via ICOs has reached high rates, with over 100,000 ETH coins being sold in the last month alone.

Large ETH sales and movements detected

Ethereum (ETH) has seen a lot of action recently, with more than $40 million in ETH being liquidated in a period of a single month. This translates to almost 100,000 tokens, which are all sold through ICOs alone.

That is not exactly an isolated event either, and the firm called Santiment, that has been tracking various ICOs and collecting data has posted interesting results.

According to the data, a single project by the name of Atonomi managed to sell over 12,000 ETH coins by itself. An even more exciting thing is the fact that 9,000 of those coins were sold on a single day, July 26 of this year. This is the biggest ETH sale in the last 30 days.

The second biggest one came from AppCoins, which managed to sell 8,400 within 24 hours, which happened only a week ago, on August 9. In the same time, Openledger managed to sell around 5,400 ETH.

Next, we have Etheroll, which has been selling Ethereum coins throughout the year. However, it would seem that they moved around 5,400 coins around August 2nd, which is actually the highest amount that this project has handled at once since February.

Last year, the firm called Status managed to set a record when it comes to ETH sales. They managed to sell over 30,000 ETH coins between August and October of last year.

While they sold only half of that this year (16,000 ETH), it is still a big deal, especially since 4,800 ETH coins were sold in the last 30 days alone. The list of projects that have had a significant impact on ETH movement goes on and on, and the result is that over 100,000 ETH has been sold or moved in the last 30 days.

ICOs are even cashing out

Of course, it should be remembered that this data doesn’t necessarily show the sales of ETH, but the amounts that are moved for whatever reason as well. So far, for example, Etheroll itself confirmed that they did not sell 5,400, but have instead migrated the coins to a new smart contract.

The biggest assumption here has been that moving ETH coins is the same as spending them. And, while this stands true in most cases, it doesn’t always have to be, as we can see in Etheroll’s example. Still, the sole fact that the coins are being moved at all is a pretty big hint that somehow something is about to happen to them.

Additionally, ever since ETH’s price started to go down, many ICOs decided to cut their losses and simply cash out. An unnamed ICO was recently reported to have raised around $30 million through a pretty decent roadmap. However, they did so when Ethereum’s price was sky-high. After it dropped, the ICO panicked and went for cash, which landed them only $4 million.

While the data is not detailed enough to point out the exact project that did this, there is enough evidence to prove that a lot of ICOs have done the same.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Anthony DELANOIX on Unsplash

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Elite