Crypto Market Sees Initial Coin Offerings (ICO) Raise Over $1.5 Billion in June
ICOs Have Raised Over $1.5 Billion USD in June
The cryptocurrency industry is booming. That is a fact. While people were calling for the “bubble” to burst and many though cryptos were dead when the price of Bitcoin was low, Initial Coin Offerings (ICOs) have been on a rise lately. During the month of June, they have raised $1.5 billion USD worldwide. A number slightly down the $1.8 billion USD from May but still quite impressive.
This information comes from an ICO tracking site called ICObazaar, which reports that 242 ICO projects were made in June while 81 new projects were started in June. This has been the fourth highest fundraising month since the ICO fever begun. This suggests that the US crackdown on ICOs was not very effective.
Top ICOs For June
The most successful ICO of the month was HybridBlock, which raised $47 million USD on its own. The second most successful was FANTOM, raising $37.85 million USD and the third was Coal Industry Coin with $37.2 million USD. Other companies that also ranked high were Cardstack, MoneyToken, Aitheon, Atnomi, DAV Network, Multiversum and Quark Chain, all with over $20 million USD.
Ambition was also increased as many projects tried to gather more money than they did before. The market is expecting somewhat of a break during the summer, though, so the next months might not be so crowded.
Successful ICOs And The Future
Projects like Augur have released their mainnets, along with other ones like Melonport. While many people saw projects dying, these are some of the ones that show that many projects have thrived. Data suggests that it takes up to one or two years for a project that was ICO-ed to launch.
The sector of Energy and Utilities saw a 130% increase over May and Finances and Banking also saw a 127% increase. The sums raised in June amount to 40% of IPOs worldwide, meaning that the number are quite significant.
Most of the ICO-ing activity occurs outside of the United States and Europe and Asia are leading the way as investors, although there is some hot debate in Europe with London, Switzerland and Estonia because of jurisdictional competition issues. However, most of the ICOs come from America and Europe and Asia are still considerably behind in this aspect.
Positive developments are happening in the US as the House of Representatives has recently allowed investment in startups if one shows that they have the expertise and Switzerland is pressuring local banks to serve crypto startups.