Since 2018’s crypto winter appeared, tokens created by ICOs have performed seriously against their overall counterparts, Bitcoin and Ethereum. This has led to a large number of projects based on the money they’ve collected financed by ICO to take many measures to survive.
ICOs’ mass sales strategy Ethereum, as well as the entire market is with it.
ICO financed projects sold 426 thousand Ethereum in 20 days
According to the data collected by Trustnodes, the projects financed by ICO sold 416 thousand Ethereum in the past 30 days, this figure is lipstick. If the current price ($ 86) is calculated, it corresponds to a total of 36.19 million dollars, a very high figure. Rumor has the most remarkable event since summer.
According to Santimement, a leading crypto currency analyst, it has been the most spent in Ethereum since last month, and after using 60.370, it reduced its balance to 165 thousand. In Aragon and Kyber Network, it was no different from Singulardtv, and during the same time they also liquidity of $ 50,000. However, it should be noted that Ethereum -based projects still have millions of Ethereums from the crypto war.
In any case, this shows the fact that many projects are subjected to pressure from the bear market.
It is not easy to survive in the bear market
Interestingly, the Ethereum -based chat application, which spent a high amount of Ethereum last month, announced that it will recently increase 25 %of its staff (approximately 25 staff). The founding joint Jarrad Hope claimed that Status’s last move was greatly reduced by the firm’s earnings, so it makes sense to dismiss the “non -important” employees. Moreover, he explicitly opened the issue of salary deduction to employees to extend the life of the Status and get rid of the chaos of all crypto currencies.
Although this kind of decision is tough for businesses, some of them did not have a very difficult time. Steemit, a private company behind the centralized media platform, which shared the same name, had to make some arrangements in its business in recent weeks. According to NewsBTC, Steemit CEO Ned Scott dismissed 70 %of the personal YouTube channel team. The Ethereum Development Studio Consensys laid out 13 %of his employees, so he exceeded the establishment funds.
While Consensys, Steemit and Status were in pain, some attempts were directly erased from the world. Etbereum Classic, an important development consortium, Etcdev collapsed, and the company’s technology manager showed the reason behind the collapse as financial restrictions. This statement came a few days later that the company’s technology manager Artamonov scolded an article in Medium, claiming that someone at the same level was a Trojan horse for another team.
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