Have initial coin offerings (ICOs) cashed out their Ethereum tokens (CRYPTO: ETH) in order to realize gains from last December and avoid this year’s bear market? You might think so but guess again. A lot of ICOs still have plenty of Ethereum on their balance sheets, according to research by crypto newsletter Diar.
At current price of $ 192, Ethereum has lost 86% of its value from its $ 1,400 peak in January. That’s a pretty steep decline.