The most unfortunate week for ICO projects in 2018
Despite the ongoing decline in the cryptocurrency market, the pace slowed down ICO after collecting several billion dollars since the beginning of the year.
The study was conducted by a representative of the service ICObox, which deals with tracking the cryptocurrency crowdfunding companies and provides services in this area, Konal Campbell.
Last week was most disappointing to raise funds through the ICO from the beginning of this year. We collected $ 14.8 million. Of the 36 startups, only 4 managed to complete his company at the initial location of the coins at this time. They published the data on the final amounts that are attracted. About half of the total ($6 million) gathered project Fondocoin – leader this week. It is a decentralized exchange, which sponsors the safely, quickly, and with the advantages of trading digital currencies.
Campbell believes that the reason that most of the projects refuses to disclose information about the involved means – they failed to collect the minimum amount required for the project.
Talk about a complete market collapse of the ICO, taking into account the results of last week, is not correct. For example, the project Bytemine gathered about 38.5 million dollars in presales – 2.5 times more than all the ICO completed their projects during this time. Given that the pre-sale continues, the final figure will be even higher.
Under the last week the expert implies that between 20 and 27 August, when the price of Ethereum was on their local minimums between $270 and $290.
Thus, the ETH holders who may have acquired bitcoin at much higher prices, now do not hurry to invest in ICO in a cryptocurrency projects continue to get rid of the asset.
Data Santiment say that last week was sold 28 709 ETH. Today, September 4, Digix Global project transferred to the stock exchange Gemini 54 thousand ETH, after receiving permission from the holders of DGD on the elimination of cryptocurrency with a total value of $ 20 million. However, the ICO reserves remains more than 3 million ETH. Despite a significant reduction in the price of an asset lately, the daily average they liquidated in 15 000 – 20 000 ETH.