ICO treasury balances steadily declining

According to research by The Block, the amount of ETH liquidated (or moved) from ICO treasury balances has been fairly steady over the past 12 months out of the 57 ICO projects we analyzed. On average, each company has liquidated/moved approximately 2,500 ETH per month (equivalent to ~$530,000 USD) over the past 12 months.

These 57 projects raised 8.2 million ETH in aggregate. Of that amount, 5.9 million ETH (or 72%) has been either moved or liquidated since ICO.