There are no signs of token sales slowing down despite regulators showing keen interest to tighten the screws. This will amuse at least a section of the people who are following the initial coin offerings (ICOs) market. It is quite natural to expect that increased regulations will slow down the process through the reality showed the opposite side. There is a tremendous interest for the cryptocurrency since last year as most of the prices have hit their lifetime highs in December last year.
Hard To Visualize
Though it is an open secret that there is a growing interest in the digital coins, it is hard to visualize how the industry is evolving itself. However, it is a fact that billions of dollars in capital are raised so casually. A recently released data demonstrated how sky-high growth had been achieved in the ICO besides the surge in the sale of the securitized token. It is quite clear from the data that token sales are increasing in every respect, be it in dollar terms or ETH or the number of the project per month. That only suggested the proliferation of the cryptocurrency market.
Elementus has crunched fresh data that took information from blockchain record and not from ICO self-reports. That suggested a significant increase in crowdsales. Though the ICOs started with humble beginnings in 2014, the explosion of digital currencies was seen only last year. Incidentally, most of the virtual coins price has hit sky high towards Christmas last year and plunged since then. That was mainly due to regulators taking actions to protect investors’ interest.
The data has focused on three crowdsales specifically compared to the rest since they are controversial for different reasons. For instance, the project on petro is a debatable one, and it has raised about $5 billion though it was not easy to verify about the absolute certainty. That is primarily due to reluctance on the part of investors to comment publicly about their involvement. Also, there was lack of information on the discounts offered.
As far as Telegram’s crowdsale, it was a different story. It took place without any crowd. That meant the issue went to private investors completely. Similarly, in respect of Ethereum killer EOS, it has raised $2.5 billion through an ICO that collected more than five million ETH exceeding 5 percent of the total supply.
Monthly Token Sales Number
Elementus also pointed out the monthly token sales number that raised a minimum of $100,000. The research firm found it to be growing every month though there was a slip in January. For instance, 174 token sales were completed in March. This worked out an average six per day, which is just two more than the preceding month’s 172. In January, 109 firms have engaged in token sales whereas December and November saw 140.
In April, March, and February 2017, a total number of token sales was only 5, 6 and 4 respectively. There were less than 50 token sales until July last year. Also, only from October, the token sales entered the three-digit number. As far as crypto registrations, March witnessed 36 compared to February’ 28 and January saw 19.