Ethereum ICOs have sold most of their tokens for profit, according to study

The cryptocurrency market has been in decline since January, but it appears blockchain startups are still profiting big. Indeed, new data suggests Ethereum-based initial coin offerings (ICOs) are sitting on $830 million in reserves – that is despite having already sold almost as much ETH as they initially raised. According to data from BitMEX Research, blockchain startups raised a total of $5,463 million worth of Ethereum (approximately 15 million ETH) in ICOs by September 2018. Interestingly, the sum almost matches the total amount of ETH these companies sold during the same period – $5,452 million (or 11.3 million ETH). The…

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