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ICO Activity Plummeted

ICO activity was down in September, according to a study by Autonomous Research. The firm wrote:

Last month saw roughly $300 million in ICO funds raised, with the month before that revised into a bit over $400 million, a far cry from the $2.4 billion in January of this year. If we include other private token raises and EOS, the highs go implying that monthly ICO activity is down 90%.

Without taking”EOS and other chunky private token” data into consideration, the quantity of ICO funds raised was down 88.53 percent last month from January.  Otherwise, the fall reached 90.7 percent.  “We have scrubbed token offering data from September, and the trend continues generally to be down,” the company emphasized.

Launched in 2009, Autonomous Research is an independent research company offering global investment research in the banking, investments, insurance, finance, and data service industries and best way to find bitcoin into ignition casino. Autonomous Next is the firm’s London-based practice focusing on”the impact of technology on the future of finance,” the company’s website details.

Investors Losing Interest in ICOs

Autonomous Research noted three reasons that could explain the drop in sale action. “First, maybe investors have devalued the concept of purchasing a utility token (does nothing however, lawfully non-binding), and instead need to purchase equity in the same companies,” the firm wrote.  By analyzing”Pitchbook’s data on blockchain and bitcoin venture capital increases,” the firm found:

There’s indeed a effect with rising drips of funds also, in venture, reaching over $1 billion in August 2018.

The firm believes that there are two reasons for this observation:”fintech businesses like Robinhood and Revolut pivoting into crypto” and”Bitmain trying to vacuum up capital before the public offering.”

Security Token Offerings

The second factor for the drop in ICO activity concerns security token offerings (STOs). According to the U.S. Securities and Exchange Commission (SEC), ICOs could be securities offerings and fall under its jurisdiction.  “STOs are the new ICOs,” wrote blockchain consultant Michael K. Spencer, elaborating that”security tokens are actual financial securities.”

Citing that investments in security token offerings have not grown to full advantage, Autonomous Research emphasized:

STOs won’t hit on the market in earnest for another half-year at least due to indigestion.

The final reason the firm put forward relates to”the collapse/crisis in Chinese P2P lending since 2015, and whether that risk-seeking capital wound up in ICOs.”

Token sale action stays, while China attempted to shut down all service suppliers of ICOs and cryptocurrenciesbuilding a bitcoin casino bc casino bitcoin gambling The People’s Bank of China (PBOC), the country’s central bank, declared last month that a number of crypto trading platforms originally set up in China have left the country to operate overseas but continue to give service to domestic users. In August, news.Bitcoin.com reported that P2P crypto lending grows increasingly popular in China.

Can you think ICO activity will pick up soon? Let us know in the comments section below.

Pictures courtesy of Shutterstock and Autonomous Research.

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Source: bitcoincasinoreview.net

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