No, everyone is holding that's why the price is low, problem is that no one is buying, so you can't do much about it. 10 times under initial coin offer price is very low, maybe when project become operative it will increase to ico price and some day in future much more.
Other projects and ico's are falling down, every single one of them so the same thing is going on here.
That's how visibility comes to the projects and this may get more awareness about the project. I think sapien network is very slow in developing the technology but they kept locking the coins for many months. Atlast SPN got listed in idex platform.