BloomberIs the initial coin offering boom over?
Startups raised just $326 million in August, the smallest amount since May 2017, according to data complied by Autonomous Research. That compares with about $3 billion on average during the first three months of the year. ICOs using the Ethereum blockchain are seen as one of the main catalysts for sending Ether’s price surging last year. Now they’re being blamed for its decline as some of those projects cash out to cover expenses and on concern this year’s cryptocurrency bear market will drag out.
The entire game is linked with the price of ETH and the credibility of ICO investment! I have found a very interesting article on this same matter and it's a good read,
https://www.bloombergquint.com/onweb/2018/07/09/half-of-icos-die-within-four-months-after-token-sales-finalizedAlso I see a serious lack of trust in ICO market. Anyone and everyone is floating an ICO nowadays without actually mapping the competition. Currently, I can see at least 60 active ICOs in icobench listing site related to banking where the main goal is to create the banking solutions for crypto and merging it with fiat account services. Honestly we don't need duplication of ideas!
I too had earned some tokens from some bounties and I have sold off majority of the tokens as soon as i had received. However, I had also saved some tokens that i thought would be good enough in future, but sadly all of them have shown more that 90% decline in price.
This is a serious challenge that needs to addressed through correct regulatory framework. Otherwise the crypto market will face a severe reputation risk.
