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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 increased, together with the month before that revised into a little over $400 million, a far cry from the $2.4 billion in January of this year. If we include other private increases that are chunky and EOS, the highs go suggesting that monthly ICO action is down 90%.

Without taking”EOS and other chunky private token” data into account, the quantity of ICO funds raised was down 88.53 percent last month from January.  Otherwise, the fall reached 90.7 percent.  “We’ve 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 company offering international investment research in the banking, investments, insurance, finance, and data service industries 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 drop in sale activity that was token. “First, perhaps investors have devalued the concept of purchasing a utility token (does nothing however, legally non-binding), and instead need to purchase equity in the same companies,” the company wrote.  By examining”Pitchbook’s data on blockchain and bitcoin venture capital raises,” the company found:

A lagged impact is with 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 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 may be securities offerings and fall under its jurisdiction.  “STOs are the newest ICOs,” composed 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 emphasized:

STOs won’t hit on the market in earnest for another half-year at least due to regulatory indigestion.

The last reason the firm 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 stays while China attempted to shut down all service suppliers of cryptocurrencies and ICOsTake note of the significance of a top bitcoin casino The People’s Bank of China (PBOC), the nation’s central bank, admitted last month that a variety of crypto trading platforms originally set up in China have left the country to operate overseas but continue to provide service to domestic users. In August, reported that P2P crypto lending grows increasingly popular in China.

Do you think ICO action will pick up soon? Tell us in the comments section below.

Images courtesy of Shutterstock and Autonomous Research.

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