Despite cryptocurrency markets struggling in 2018, the appetite for Altcoin-driven Blockchain projects appears undiminished.
According to reports, ICO’s have already surpassed the record amount raised in all of 2017 – despite concerns about impending regulation from governments across the globe.
Leader of the pack is Block.one, the company behind the now fifth-rated cryptocurrency (by market capitalisation), the dApp-friendly EOS, which had raked in something in the region of $4 billion by the time it shuttered its offering on at the start of the month having successfully completed its infrastructure roll-out. That hugely successful launch – which was not without its issues – has eclipsed even the intriguingly secretive efforts by Telegram, which – despite being decidedly closed to we mere mortals – has managed to round up an impressive $1.7bn in pre-sales for its proposed TON Network and coin, despite having nothing solid to show its investors beyond a whitepaper, that has still not been publicly scrutinised.
However, according to Bloomberg‘s report on the work of ICO tracker CoinSchedule, even before EOS’ close, ICOs had already raised an eye-watering $9bn in the first half of 2018 – easily doubling the $4bn total for all of 2017.
There could be big changes in the ICO markets soon however, as regulators – especially in the US and Asia – look to restrict activity in the sector and increase transparency and investor protection. The US Securities and Exchange Commission, for example, has begun to shut down what it believes are fraudulent schemes and is lobbying heavily for ICOs, and some cryptocurrencies – such as Ripple – to be classed as Securities and thus have to comply to its rules in the same way that stock and share offerings do.