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ICOs showing less promise in the third quarter


The ICOs were very popular back in the day, bringing companies more capital than they knew what to do with. With those kinds of capitals, startups were able to turn into large crypto giants we know today. Thanks to those ventures we can now utilize large crypto exchanges with multiple hundreds of coin listings.

However, the ICO market has been going down lately, according to the news on espaciobit, The second quarter of 2018 was a small surge in funding drives, by featuring 606, however ultimately it could be considered as a failure as less than half of them were successful, only 267 reaching their goals and making nearly $8 billion in total. However, the third quarter is regarded as a disaster. In terms of the percentage more ventures became successful, however, the funds gathered were a lot lower than before. Out of 388, 193 were successful gathering nearly $1.6 billion and accounting to a 500% drop.

ICOs dropping in volume and numbers

It must be said that investments in these ICOs didn’t come out too well for crypto enthusiasts. Reports show that a $100 investment amounted to a loss of $740 in total, making it a terrible pattern for future ICOs. Although the bar has now been set low for quarter 4 and hopefully the new ICO ventures watched carefully.

The number of projects listed on the crypto exchange was also quite low as only 34 were able to make it and maintain a stable market value. It is no surprise that Singapore started to lead with ICO listings in the world, featuring 35 last quarter and showing no signs of stopping. In terms of Malta, they are starting to wind down and get more stabilized with their crypto heaven, only featuring 6 listings last quarter.

2018 so far and the future of cryptos

2018 has been really rough on cryptocurrency prices, it has been quite hard to make a decent profit off of the top 5 cryptos on the list right now. Compared to their initial prices at the beginning of the year, some traders treat it as a disaster. But, surprisingly the trading volumes have increased considerably and some of the top cryptos’ values have followed. No matter the downsizing and terrible price fluctuations that Bitcoin Cash suffered, they still remain a reliable and relevant asset that people keep trading, with no signs of stopping.

Despite the terrible challenges of major coin price fluctuations and uncertainties in the mining department, the Chinese crypto giants like Binance, OKEx, and Huobi still managed to have a relatively stable year compared to other small players.

New players

However, they could be forced to compete with a new kid on the block very soon. As a new cryptocurrency exchange, BitForex in Singapore has started to report huge amounts of traded volumes within a single day. Just last 24 hours amounted to no less than $315 million. However, despite the volumes, the companies’ future could be in danger as old big boy cryptos are starting to show some age as they become less and less valuable.

These crypto exchanges have already started to feature a lot of tokenization, but will it help? Time will tell as there are many more innovations coming our way.

About the author

Konstantin Rabin

Konstantin Rabin

Konstantin has been working in the financial services industry since 2011. He is over-viewing various updates in the technology, regulation, and market movements. He's passionate about games and has a cute cat named Dog.

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