2018-8-1 15:24 |
With the currently depressed cryptocurrency market, one might think that interest in initial coin offerings (ICOs) would wane this year. However, recent data suggests that the opposite is true — the number of funds generated through ICOs has increased this year. This observed trend is likewise supported based on the explosive growth of the number of crypto funds, which has now reached more than 300 and counting.
Funding Through ICOs IncreasingLogically, investors should be more cautious when it comes to cryptos these days. After all, the market is yet to recover from January’s massive correction, and tokens are still trading way below their December 2017 all-time highs.
However, the latest data from the financial research firm Autonomous Next says otherwise. Rather than seeing a decline in funding, fresh money from ICOs during the first half of 2018 actually increased by a large margin.
Funds generated via ICOs from January to June this year reached $12 billion. For comparison, the industry only raked in around $7 billion in funding from ICO activities last year, suggesting that investor interest in the crypto sector increased despite the market correction early this year.
Crypto Funds on the RiseSimilarly, the crypto fund sector also mirrors the same optimism in the digital currency market. The same report from Autonomous Next revealed that the number of crypto funds increased this year.
The total number of cryptocurrency funds reached 312 as of June 2018. This is a massive 24 percent from last year’s 251 crypto funds, which seems to suggest that the current downturn has not dimmed investor interest as many remain optimistic on the market’s long-term potential.
These 312 crypto funds control around $7.5 to $10 billion in assets. However, these assets are concentrated among the largest funds, with the 10 largest funds controlling 43 percent of the assets.
ICOs Generate $12B in Funding This Year as Crypto Firms Continue to Lure Investors was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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