Bitcoin Price Could Hit $15,000 This Year

Christopher Matta, Goldman Sachs

According to my estimates, the recent tx spam on the ETH network cost up to ~$15m USD

Vitalik Buterin
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4.07.18
Articles

ICO Market keeps growing despite the regulators

Investors continue financing cryptocurrency startups and participating in tokens primary offerings (ICO) despite the increase in pressure by regulators.

According to The Wall Street Journal research based on 900 transactions made on ICOBench.com, $11,8 billion was invested for ICO for 5 months of 2018 which is twice as much as last year ($5,5 млрд).

ICO market keeps growing despite US Securities and Exchange Commission regulations are getting stricter, cryptocurrency prices drop and fraudulent transactions are still very common.

All the issues scares away retail investors but large tech investors are still pouring money into ICO hoping that this market will eventually grow.

Telegram Group tokens are one of the biggest ICOs this year. Telegram Group developed Telegram messenger ($1,7 billion) and block.one startup that works on implementing blockchain solutions for business purposes ($4 billion).

However, the total amount of tokens in 2018 is already much higher than in 2017 even if Telegram Group is not taken into account. According to WSJ, 490 new startups had successful ICOs for the first 5 months of 2017 and the average amount of investments is $24 million.

PwC and Crypto Valley association provided the information about 537 ICO projects and raised $13,7 billion from January till June 2018. Telegram ($1,7 billion) and EOS ($4,1 billion) campaigns took place during the same period of time.

Last year 552 teams started their ICO and raised up to $7 billion. If we do not count two largest projects launched this year the total amount invested is still bigger than last year – $8 billion.

Researcher also mentioned that primary offerings are growing due to hybrid campaigns that allow to raise funds after the financial help is received. They collect $100.000 to $1 million from venture capitalists and after that it becomes open to public.

There were more primary offerings (ICO) handled in Great Britain this year than it was in the US. Approximately the same number was handled in Switzerland. The last ones out of ten countries are Israel and Hong Kong.