The first half of 2018 is officially passed, and what we have seen so far is a slightly different situation from last year. While the Initial Coin Offering (ICO) market rose, the crypto market seems to be in a bearish position over the past couple of months.
Even though some predicted that the explosion of ICOs would lead to many failures and even more scams, the ICO phenomenon has followed a very interesting path since its inception in May 2017. From growth to regulation, ICOs went through a lot of changes.
What’s certain is the fact that ICOs are now widespread. When compared to 2017, they are very different – and had the most successful month coming in March this year. According to the data over the past seven months, they are continuing to raise huge sums of money, even though many people see them as scams. In 2018, ICOs are expected to grow even more, and the goals are being set anywhere from $1 million to $10 million and even $50 million by some analysts.
While the major cryptocurrencies are struggling, ICOs show a definite spike from April 2017. The $218 million which were raised in April 2017 for ICOs alone is now a whopping $2.52 billion accumulated by the 584 ICOs present in the ecosystem.
During the crypto fever in December, there were even suggestions that the G20 will discuss cryptocurrency regulation, which made ICO capital a lot higher, alongside Bitcoin’s most bullish run.
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