A recent report published by BitMEX and Token Analyst looks into the whereabouts of $24.2 billion worth of ICO tokens issued in 2018. Due to the year-long bear market, the current value of these tokens is roughly $5 billion. Data from the report shows that $1.5 billion of the total value ($5 billion) of the tokens was realized by selling tokens when the market was still healthy and ICO teams have full possession of the $5 billion worth of tokens. The report also found that the majority of the $24.2 billion in ICO funds were either kept in ETH or transferred to Bitcoin and Tether. Teams like Veritaseum and Noahcoin each raised over $4.5 billion in tokens and the Veritaseum reserve saw a $3.1 billion loss in value. The data suggests that crypto startups should be held to lockup clauses and vesting schedules in order to make sure founders are motivated to complete projects after fundraising.