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    Asian Crypto Exchanges See Nearly 99% Of Tokens Trading Below ICO Value

    According to a report published by BlockBeats, most of the tokens sold through initial coin offerings (ICOs) that got listed on popular cryptocurrency exchanges in Asia, including Binance, Huobi, HADAX, KuCoin and OKEx, ended up trading below their token sale price, with only a few exceptions managing to rise in value.

    98.6 percent of the 264 tokens they investigated fell below their ICO price points by August 21st. The lone exceptions to this disturbing trend were three tokens and stablecoins. These held their initial value or gained at price.

    One of the tokens that kept its value is the Huobi Token (HT), which according to CryptoCompare data is currently trading at about $2.08 after rising 1.9% in the last 24-hour period. The token’s ICO price was of $1.52, a nearly 30% rise. On Huobi’s Autonomous Digital Asset Exchange (HADAX), tokens are more likely to skyrocket or plummet in intraday trading, as it reportedly lists “a large number of high-risk projects.”

    Whereas, a token with the ticker WBTC reportedly saw its value plunge by 99.86%, as it was initially sold for 4.03 CNY ($0.59) and was exchanging at 0.0056 CNY ($0.00081) last week.

    The biggest reason for the slump of most of these tokens is reduced quality schemes that use their funds in an effort to support the token’s value, rather than developing an original product. Although some investors manage to make money on these projects, its report notes, most end up losing almost everything they put in. What many of them do with the money is to deploy funds in an effort to boost their token price. It is rare when they actually put the money to work building and creating the project.

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    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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