The ICO activities of 2018 are mind-boggling. It is just April, but already investors have contributed an amount surpassing 2017’s $5.6 billion. This quarter, ICOs have netted $6.3 billion already, even with the regulatory and crypto volatility hanging over the crypto industry.
It must be noted that the cryptocurrency industry has weathered different 2017 storms that range from ICO frauds, large-scale hacks, and unprecedented market volatile conditions. The investors have not looked back, but have continued to support the industry by investing and investing.
The first quarter of 2018 saw an increase of over one hundred times when compared to a similar time of 2017. Telegram ICO raised a total of $1.7 billion, which accounts for a third of the year’s funding. Telegram is not alone on this record-breaking pedestal.
In February this year, there was casino cryptocurrency Dragon’s $320 million token sale. This was then quickly followed by Chinese exchange Huobi’s $300 million “token launch”. This was very interesting as the Chinese government had initiated strict regulations that were meant to cap ICOs.
Most governments attempting to regulate the ICO industry are still at crossroads. The US Securities and Exchange Commission’s ominous threat in February to clamp down on ICOs could mean shutting up this multi-billion dollar industry an this would not be the best decision.
The potential of an ICO-friendly framework will come to be realized even as the conservatives think of ays of putting it under regulation. As things stand, project founders are determined to push on while the investors have strong faith in these investments. This simply means that by the end of the year, colossal amounts of money will have been raised through these projects.