Report of Ernst & Young: 86% ICO-tokens traded below the starting price

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One of the “Big four” auditors, Ernst & Young published a report on the dynamics of prices released as part of the ICO tokens. It turned out that 86% of these coins is trading below the price in the listing, but 30% actually lost any value. At the same time, only 10 of the estimated 372 show the opposite trend.

Meanwhile taxes 110 of 372 projects made up approximately 87% of the total investment in ICO, only 25 have a working product or at least a prototype.

It is noteworthy that, according to Ernst & Young, no blockchain platform and was unable to compete with Ethereum, although infrastructure projects have shown the best dynamics.

The company’s experts are convinced that the volume of retail investment in industry will decline, and their place will be the venture capital firms and investment funds.

Ernst & Young intend to re-audit portfolio tokens in a year.

Earlier, Ernst & Young acquired American startup Elevated Consciousness technology assets and related patents, among which was included a tool called Andy Crypto-Asset Accounting and Tax (CAAT).

CAAT will be integrated into the portfolio of solutions called the Blockchain Analyzer with the aim of creating the most comprehensive set of technological services in the field of tax reporting and insurance.

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