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ICO Action Plummeted

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

Last month saw roughly $300 million in ICO funds increased, with the month before that revised to a bit more than $400 million, a far cry from the $2.4 billion in January of this year. If we include chunky private token increases and EOS, the highs go suggesting that ICO action 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’ve scrubbed token offering information from September, and the trend continues generally to be down,” the firm emphasized.

Launched in 2009, Autonomous Research is an independent research firm offering global investment research in the banking, investments, insurance, finance, and information service businesses and a href=””>zigzag 777 casino affiliates. Autonomous Next is the company’s London-based practice focusing on”the effects 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 token sale activity. “First, perhaps investors have devalued the idea of buying a utility token (does nothing however, legally non-binding), and instead want to buy equity in the exact companies,” the firm wrote.  By examining”Pitchbook’s data on blockchain and bitcoin venture capital increases,” the company found:

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

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

Security Token Offerings

The second element for the decrease 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 newest ICOs,” composed blockchain consultant Michael K. Spencer, elaborating that”security tokens are real financial securities.”

Citing that investments in security token offerings haven’t grown to strength, Autonomous Research highlighted:

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

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

Token sale action remains while China attempted to shut down all service providers of ICOs and cryptocurrencies. The People’s Bank of China (PBOC), the nation’s central bank, admitted last month that a variety of crypto trading platforms initially set up in China have left the country to operate overseas but continue to give service to domestic users. In August, reported that P2P crypto lending grows increasingly common in China.

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

Pictures courtesy of Shutterstock and Autonomous Research.

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