ETH Treasury withdrawals hit a year-high in December

27 Dec, 2018
by Manon Bridou-Koenig
ETH Treasury withdrawals hit a year-high in December

Ethereum ICO treasuries have seen a withdrawal of around 400,000 ETH this month, making December the largest withdrawal month of 2018.

According to Diar's chart, we can see that around 400,000 Ether has been liquidated from ICO treasuries so far in December alone, clearly defining the month as the largest withdrawal period of the year: 

Looking at ICO Treasury Balances, Ethereum has dropped 83% in price from the start of the year when ICO treasuries saw massive activity with withdrawals being the highest they ever were this year.

A tumultuous year 

Diar states, "The bear market has made November the largest withdrawal period this year on the back of an 82K ETH drawdown by Tezos. Aragon, also a top holder, has moved a near 40k into a Dai CDP to protect it's holdings from the increased volatility seen in recent weeks. As a whole, 24% from the start of the year has moved from the 100 wallets assessed in the table below. But what was worth $3Bn is now only $350Mn."

According to Bitcoinist, the third quarter for Ethereum has been particularly gloomy: “In December, it fell down to as little as $83, which is almost 95 percent down from its all-time high values at the beginning of the year.”

Following a stormy year for ETH, it remains to be seen how the mass withdrawal from ICO treasuries will affect the cryptocurrency heading into 2019.

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Read more about: Ethereum (ETH)


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