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ICO Activity Plummeted
ICO action was significantly down in September, according to a study by Autonomous Research. The firm wrote:
Last month saw about $300 million in ICO funds raised, with the month before that revised into a little more than $400 million, a far cry from the $2.4 billion in January of this year. If we include EOS and other chunky private increases, the highs go to over $3 billion, suggesting that monthly ICO activity is down 90%.
Without taking”EOS and other chunky private token” data into consideration, the amount of ICO funds raised was down 88.53 percent last month from January. Otherwise, the fall reached 90.7 percent. “We have scrubbed token offering data from September, and the trend continues generally to be down,” the company emphasized.
Launched in 2009, Autonomous Research is an independent research firm offering global investment research in the banking, investments, insurance, finance, and data service businesses and best way to find bitcoin into ignition casino. Autonomous Next is the company’s London-based practice focusing on”the impact of technology on the future of finance,” the company’s website details.
Investors Losing Interest in ICOs
Autonomous Research noted three reasons that could explain the fall in sale action that was token. “First, perhaps investors have devalued the idea of buying a utility token (does nothing however, legally non-binding), and instead want to buy equity in the exact companies,” the company wrote. By examining”Pitchbook’s data on blockchain and bitcoin venture capital raises,” the firm found:
A lagged impact is with rising drips of capital also, in venture, reaching over $1 billion in August 2018.
The company believes that there are two reasons for this observation:”fintech companies like Robinhood and Revolut pivoting into crypto” and”Bitmain trying to vacuum up capital before the public offering.”
Security Token Offerings
The second element for the decrease in ICO activity concerns security token offerings (STOs). According to the U.S. Securities and Exchange Commission (SEC), ICOs could be securities offerings and fall under its jurisdiction. “STOs are the new ICOs,” wrote blockchain consultant Michael K. Spencer, elaborating that”security tokens are real financial securities.”
Citing that investments in security offerings have not grown to advantage, Autonomous Research highlighted:
STOs won’t hit on the market in earnest for another half-year at least due to regulatory indigestion.
The last reason the company put forward relates to”the collapse/crisis in Chinese P2P lending since 2015, and whether that risk-seeking capital wound up in ICOs.”
Token sale activity remains, while China tried to shut down all service providers of ICOs and cryptocurrencies21 Best Bitcoin https://bitcoincasinoreview.info The People’s Bank of China (PBOC), the nation’s central bank, declared last month that a number of crypto trading platforms originally set up in China have left the country to operate abroad but continue to provide service to national users. In August, news.Bitcoin.com reported that P2P crypto lending grows increasingly common in China.
Can you think ICO activity will pick up soon? Let us know in the comments section below.
Pictures courtesy of Shutterstock and Autonomous Research.
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