Popularity of Initial Exchange Offering Increases as Market Welcomes 50th IEO Launch
Initial Coin Offerings (ICOs) first became popular in 2017, becoming the best way for cryptocurrency companies to raise capital for their projects. However, as the markets suffered in 2018, ICOs started to dwindle as well, erasing themselves from the industry. However, considering how resourceful the industry is with their funding efforts, the Initial Exchange Offering (IEO) arose, and the number of them is quickly rising, surpassing the 50th funding effort, according to reports from CoinGape.
Based on the data provided via ICObench, the entire market has seen a rise in IEOs, accounting for IEOs around the world to pass 50. Furthermore, most of these IEOs were launched from the Exmarkets Launchpad and Probit launchpad.
In the lead for IEOs after Probit and Exmarkets include Binance, Bittrex, Kucoin, and Huobi.
The numbers overall are still fairly low, but they are promising, considering the success that ICOs ultimately had after some publicity. With the new system, the exchange becomes the middleman between the contributors and the projects, which will hopefully help consumers to get a little more familiar.
So far, there are 35 “complete” IEOs. From April 22nd to May 1st, there are another five projects that are planned to be launched. The first IEO has actually launched two years ago in June, but the pace only recently picked up. In 2019 alone, there have already been 46 IEOs launched of the 52 IEOs listed. Hopefully, as the IEOs correct some of the difficulties that ICOs faced, like scammers, there will be more investors interested in investing.