ICO Used Blockchain Projects Are Struggling Due To Crypto Market Volatility
Even though the market drop only was really seen within the last month, Ethereum’s price has been dropping for at least the last three months. The losses exceed 60%, and this shaky ground can easily be credited for the issues that ETH-based token sales have been planning during this time. The cryptocurrency world is known for volatility in price, but they were able to benefit from the price surges in 2017. Unfortunately, this year has come with many complications, and coins are lucky if they’ve seen any progress.
This isn’t just a problem for the exchanges that are presently in the industry. Many crypto startups have made promises for the deadlines of their sales, and they still have to start when they promised, even if the industry has taken a turn for the worst since they made their plans. Without any real certainty in this industry, the timing of every single sale makes a difference, and startups have to act fact.
One startup, Exioms Technologies, says that they speed of the process for ICOs, whether the company is new or existing. Their technology lets someone launched a new token in just a few hours, rather than waiting weeks and months to gear up. ICOs have many aspects that companies have to setup, which is what takes so long. But since the market changes so quickly, it grows increasingly important to strike while the iron is hot.
Any system that offers a fast pace with crowdfunding brings in a lot of attention. If it’s set up in the right way, it could make the difference between a successful token sale and a failed one.
CEO Dileep Seinberg of Exioms said,
“Businesses are quickly adopting Blockchain as a way to streamline the online payment process and manage transaction transparency. Our business is at the cutting-edge of this technology. We are helping start-ups, enterprises and SMEs integrate Blockchain into their daily business practices to help them operate efficiently and grow their business.”
Exioms has already become an integral part of multiple sectors within India, including the government, enterprise, and SME industries. They are part of supporting majorly disruptive technologies, which happens to include blockchain with many others.
Blockchain isn’t solely beneficial to cryptocurrencies. It has had multiple use cases that have help to improve the retail and banking industries as well, and many experts believe that this technology will be responsible for the next digital revolution in the world.
As more businesses and corporations start to believe the same idea, startups and other establishments are taking advantage. As regulatory measures are finalized around the world, there will be much to be seen about how the speed and efficiency of startups play a role in their success.