https://u.today/it-is-possible-ethereum-did-not-drop-due-to-ico-sell-off-after-allPossible it wasnt ICOs
According to data provided by Diar, a research group that releases an in-depth weekly analysis on the global cryptocurrency market, the majority of major Blockchain projects based on Ethereum are still holding tens of millions of dollars in their Ethereum treasury.
I urge everyone to read and see if this make sense. The article says that its not the ICO's that has to blame for ETH sudden drop but the technology behind, dApps, because it didn't scale as expected giving investors false hope that's whey they dumped their ETH.
Although its also mentioned that most ICO had liquidated an average 62% of their ETH holding. So this alone has put tremendous amount of pressure on ETH that's why the price plummeted.
yes indeed, especially if the ICO later turns into a scam. This is what we must be aware of at the ICO event. really filter out ICOs that have good potential and also often check the identity of the team.
most ICOs who scam will sell all ETHs from tokensale which will certainly make a bad impact. most likely also when the ETH experienced the worst drop this month, it was also a result of several ICO projects