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ICO Action Plummeted
ICO activity 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, together with the month before that revised to a bit over $400 million, a far cry from the $2.4 billion in January of this year. If we include EOS and chunky token raises, the highs go to over $3 billion, suggesting that ICO action is down 90%.
Without taking”EOS and other chunky private token” data into account, 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 company offering international investment research in the banking, investments, insurance, finance, and data service businesses and perfect way to find bitcoin into ignition casino. Autonomous Next is the firm’s London-based practice focusing on”the effects of technology on the future of fund,” the company’s website details.
Investors Losing Interest in ICOs
Autonomous Research noted three reasons that could explain the drop in token sale activity. “First, maybe investors have devalued the idea of buying a utility token (does nothing yet, lawfully non-binding), and instead need to purchase equity in the exact companies,” the company wrote. By analyzing”Pitchbook’s data on blockchain and bitcoin venture capital increases,” the company found:
A lagged effect is indeed with increasing drips of capital as well, in venture, reaching over $1 billion in August 2018.
The firm 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 new ICOs,” wrote blockchain consultant Michael K. Spencer, elaborating that”security tokens are real financial securities.”
Citing that investments in security offerings haven’t grown to full strength, 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 whether that risk-seeking capital wound up in ICOs.”
While China attempted to shut down all service providers of ICOs and cryptocurrencies , token sale activity staysmBit scam The People’s Bank of China (PBOC), the nation’s central bank, declared last month that a number of crypto trading platforms initially set up in China have left the country to operate abroad but continue to give service to national users. In August, news.Bitcoin.com 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.
Pictures courtesy of Shutterstock and Autonomous Research.
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Source: bitcoincasinoreview.info
