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 , TRON, Tezos, and , 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…

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.