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ICOs Going for Mass Ethereum (ETH) Sales, Report - Global Coin Report
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ICOs Going for Mass Ethereum (ETH) Sales, Report

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Ethereum
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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.

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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

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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