ETH/USD exchange rate was $228.Ethereum rebound 37% from the low of last month. $ 166 price last month was the lowest in over a year. The downward pressure, followed by a stalled rally at around $ 230.
Crypto derivatives platform BitMEX has released a study showcasing the impact of ether’s price collapse on ERC-20 projects. The study, which tracked the Ethereum balances of 222 ICOs, found that the projects had already offloaded as much ETH as they raised in U.S. dollar terms. Even assuming an ether price point of around $230 a token, projects that are still holding ETH have unrealized gains rather than losses.