ICO Action Plummeted
ICO action was down in September, according to a study by Autonomous Research. The firm wrote:
Last month saw roughly $300 million in ICO funds increased, with the month before that revised to a bit more than $400 million, a far cry from the $2.4 billion in January of this year. If we include EOS and other chunky token raises, the highs go implying that ICO action is down 90%.
Without taking”EOS and other chunky private token” data into consideration, the quantity of ICO funds raised was down 88.53 percent last month from January. Otherwise, the drop reached 90.7 percent. “We have scrubbed token offering information from September, and the trend continues generally to be down,” the firm emphasized.
Launched in 2009, Autonomous Research is an independent research company offering global investment research in the banking, investments, insurance, finance, and information service industries and perfect 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 firm’s website details.
Investors Losing Interest in ICOs
Autonomous Research noted three reasons that could explain the drop in sale action that was token. “First, perhaps investors have devalued the idea of purchasing a utility token (does nothing however, legally non-binding), and instead need to buy equity in the same companies,” the company wrote. By examining”Pitchbook’s data on blockchain and bitcoin venture capital raises,” the company found:
There’s indeed a lagged effect in venture with drips of funds, reaching $ 1 billion over in August 2018.
The company believes that there are two reasons for this observation:”fintech businesses like Robinhood and Revolut pivoting into crypto” and”Bitmain trying to vacuum up capital before the public offering.”
Security Token Offerings
The second factor for the drop 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 newest ICOs,” composed blockchain adviser Michael K. Spencer, elaborating that”security tokens are real financial securities.”
Citing that investments in security token offerings haven’t grown to full advantage, Autonomous Research emphasized:
STOs won’t hit the market in earnest for another due to indigestion.
The last reason the company put forward relates to”the collapse/crisis in Chinese P2P lending since 2015, and if that risk-seeking capital wound up in ICOs.”
Token sale action remains, while China attempted to shut down all service providers of ICOs and cryptocurrenciesbitcoin video casino apk bitcoin casino instant deposi The People’s Bank of China (PBOC), the nation’s central bank, declared last month that a variety of crypto trading platforms initially set up in China have left the country to operate abroad but continue to provide service to domestic users. In August, news.Bitcoin.com reported that P2P crypto lending grows increasingly popular in China.
Do you think ICO activity will pick up soon? Tell us in the comments section below.
Images courtesy of Shutterstock and Autonomous Research.
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Source: bitcoincasinoreview.info
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