Data available on ICO Bazaar indicates the market for Initial Coin Offerings (ICOs) is experiencing a slight drop this summer. Though, there are expectations it will pick up again in the fall.
There is always summer drop anticipation in global ICO markets, experts say. So this year’s drop is not strange. ICO Bazaar is an ICO-listing platform that helps companies to promote their ICOs. In June, it recorded a total of 242 ICOs launched around the world, raising over $1.5 billion during the rounds.
Fundraiser For June
A new report has shown that huge ICO projects that require over $25 million or more are likely to raise these funds than those that need less amounts. For instance, the month of June witnessed its highest ICOs, which included Coal Industry Token, Fantom, Cardstack, and HybridBlock, all raising more than the $25 million mark. Cryptocurrencies and platforms fell into the category of the ICO raising the most funds last month. Earlier this year, much as ICOs were predominantly industry-specific marketplaces, the trend has seemingly been replaced by smart contract platforms, cryptocurrencies and new blockchains.
Fundraiser For July
Now halfway through July, this month has already witnessed some ICO launches with good runs. For instance, Macau-based blockchain-based gaming operation launched HB Token, and it reportedly raised about $750 million in just five minutes. If that is true, then it is very startling, because various bodies and governments around the world have released warnings, prevailing on investors to avoid ICOs. It was reported that the gaming company is planning to organize Poker and Chess tournaments online while the prospective winners will be paid in their token. That said, there is not much information about this news.
Other successful ICOs that have also taken place this July include Liquidity Network, Inmediate, Oxcert, Bitlumens, and Sparkster. Origin Protocol and Dfinity projects are still ongoing at the time of writing.
Background Information
ICOs have become one of the easiest ways of raising startup capitals around the world, with many investors wooed to the projects with assurances that investing in such projects offer good investment opportunities. While many scammers have capitalized on it to prey on unsuspecting investors, genuine ICOs have helped startup-preneurs to raise funds. Indeed, the fraudsters who cash in on ICO to dupe enthusiasts have raised regulators’ suspicions around the world. As a result, many governments are enacting stringent laws to either regulate or ban ICOs in their countries.
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