CryptoLaboratory Reports Wall Street Journal’s Use of Incomplete Data in Estimating ICO Values
On Thursday, April 18, 2019, news outlet, Ethereum World News covered the news involving the Wall Street Journal’s (WSJ) undervaluation of Initial Coin Offerings’ (ICO) investment. The findings were first exposed by crypto and ICO markets analyzer, CryptoLaboratory, whom has since argued that the WSJ underestimated the overall ICO market by 2.5 times.
As per the claims made, the WSJ failed to include complete data in their ICO market computations. Said error led them to spread the news that the ICO market for the first quarter of 2019 was $118 million, when in fact it was roughly $302 million.
On Monday, April 1, 2019, CryptoLaboratory assessed the ICO market’s trends between the fourth quarter of 2018 and the first quarter of 2019. This piece of information was what led many to uncover the truth about WSJ’s errors.
While CryptoLaboratory was successful in showing that roughly 5.64 times less money was coming into the ICO market, if we were to go by the WSJ’s numbers, it could have potentially resulted in investors questioning the overall market.
Speaking on the matters is the CEO of CryptoLaboratory, Dmitry Bogdanchikov, who does not seem to blame the WSJ, given the fact that news surrounding cryptocurrencies have increased since its growth.
At least this event led to food for thought, as many can now reassess the resources that are used for “reliable” information.
Here’s what Bogdanchikov had to say,
“There are many resources in the Internet […] They are mostly created by enthusiasts, who usually do not have enough time or opportunities to gather complete information.”
He also added that this results in becoming “a victim of misinformation,” which was the case for WSJ.
CryptoLaboratory goes a long way to ensure that their statistics are as accurate as possible. Some of the products that are being offered include ICO Analytics, Cryptocurrency Analytics, ICO directory, Cryptocurrency Reference Book, Cryptoworld News Rating and Cryptoworld News Digest.
For the most part, the team at CryptoLaboratory invests a lot of time looking into the following factors:
- Project-to start and end date
- Team description, and financial and resources indicators
- Assesses 23 different indicators
- News outlet rating, i.e. on a daily and monthly basis
Ethereum World News also noted that CryptoLaboratory considers 52 parameters when assessing an ICO, and besides the aforementioned list, they also do so by using the “weight average rating”, which takes the sum across the ratings of 14 leading agencies.
To learn more about CryptoLaboratory, check out: https://cryptolab.one/about