ICOs Down 97% Year-on-Year, IEOs Pick Up Some of the Slack
Cryptovest
Published May 15, 2019 09:22AM ET
Updated May 15, 2019 10:41AM ET
ICOs Down 97% Year-on-Year, IEOs Pick Up Some of the Slack
ICO activity has fallen by as much as 97% year-on-year compared to May 2018, shows research by BitMex. Various factors affected the token crowd sale market, which was extremely hyped, raising hundreds of millions of dollars for early projects.
The lack of new high-profile projects and prospective platforms is one factor behind the decline. However, after the crop of platforms like EOS, TRON, Tezos, and Cardano, no similar ICOs have been seen. The hype and promises of those platforms also rode on the general optimism during the bull market in cryptocurrencies.
In 2019, only in March ICOs managed to raise above $104 million. After that, ICO data shows that May arrived with another slowdown in funding, with...
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