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

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

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite