Cryptocurrency offerings jumped to 13.7 billion USD in the first five months of 2018

July 2, 2018 1:06 pmComments Off on Cryptocurrency offerings jumped to 13.7 billion USD in the first five months of 2018Views: 16

cryptocurrencyCryptocurrency offerings jumped to 13.7 billion USD in the first five months of the year, nearly twice as much as generated for the whole of 2017. This is reported by the PwC’s Strategy and Advisory Unit and the Swiss-based Crypto Valley Association.

The technological startups in blockchain worldwide have funded the sale of cryptocurrencies or Tokens directly to ICO primary investors, bypassing banks or venture capital companies as intermediaries.

This year’s virtual currency sales of 537 bids surpassed 7 billion USD in total, including the ICO of the chat service Telegram, founded by Russian-born entrepreneurs Pavel Durov and Nikola Durov in 2013 and the EOS currency of Block.one.

Telegram has raised 1.7 billion USD without selling Tokens publicly. EOS, an infrastructure project for decentralized applications, has raised over 4 billion USD by selling Tokens, which started in mid-2017.

The report says that since the first primary offering of digital currency in 2013, 3740 offers have been made. Only 30% of them have successfully completed, and many have been postponed or lost momentum during the ICO process.

The United States remains a leading destination for primary supply. For the first five months of 2018, 56 token offerings were registered. They raised 1.1 billion USD. The US is attractive because of clear and clear regulatory requirements.

Switzerland is the ICO capital of Europe, but in 2018 Britain has picked up momentum in terms of volumes and revenue generated. The 48 initial digital currencies, registered in the UK since the beginning of the year, have raised 507 million USD.

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