The answer is in the amounts.I mean there is a lot of contribution by the numbers,but they are mostly under 1 ETH.A lot of small investors.
You're absolutely right. Average January contribution amount according to investors requests was as much as $6500. A lot of people were afraid that 50ETH is too much for individual cap. As we can see on etherscan, everage contribution now is only about $1400. Market correction hot everyone.
This is very low - they have to push their ICO advertising to the max.Still a lot of time until the ICO would finish,but the amount bought so far is not even half of the private presale. Probably the low price of the ETH is not helping either.Is the price of the ETH pegged now or calculated on the fly?
The price of Ethereum is locked at $700 . But I don't really get it why the amount raised by now is so low, considering that when ICO begun on 9th, all their servers were down due to high demand! I finally managed to buy after 3 hours from the time ICO went live and honestly, I thought it would end in less than 48 hours!
This is very low - they have to push their ICO advertising to the max.Still a lot of time until the ICO would finish, but the amount bought so far is not even half of the private presale. Probably the low price of the ETH is not helping either.Is the price of the ETH pegged now or calculated on the fly?
Hi everyone. You are correct. This is very low and has surprised our team as well. We've been reviewing our analytics and will be publishing an update on this soon.
According to our analytics and our industry data, our results have been impacted by a number of things:
- Overall Market: The two corrections in February and the latest marketer correct in March. We saw a decline in registrations since these events. We also see other peers in the industry holding token sales being impacted by the latest market corrections as well.
- Scam Attempts: The morning of our token sale, hackers and scammers flooded our servers and communications channels with DDOS attacks (traffic) that overloaded our servers which crippled our ability to proceed with our site loading, email sign-ups, email verification, etc. They also created imposter accounts and channels and directly reached out to our investors and misguided them with false wallet addresses. Investors that experience FOMO and did not take our instructions over the past month were impacted.
- Lack of Marketing: Given the strong demand velocity in the registrations we received, we scaled back or delayed specific marketing activities and announcements. We have now discovered that the recent market weaknesses eliminated a lot of that original interest. Therefore, we will be kicking up our marketing efforts and resuming planned marketing activities.
We hope to turn things around; however, if we only raise $5 - 10M, it will still be enough runway to support our overall mission and roadmap. (Please keep in mind that in the VC and world of Silicon Valley, a $5 - 10M raise is typically a Seed A round)
A full raise of $30M would have allowed us to take business risks and deploy a number of initiatives that could help broaden the Coinvest brand. A raise of $5 - 10M still accomplishes our goals; however, puts us in an environment in which we are focused on one path, take no risks, and ensure full diligence in our operating expenses.
We still feel very confident with our roadmap, team, and ability to execute our mission with this raise. We ask for your support in continuing to believe in Coinvest for the same reasons that sparked your interest in our company from the beginning.
