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ICO Activity Plummeted

ICO action was significantly down in September, according to a study by Autonomous Research. The firm wrote:

Last month saw about $300 million in ICO funds raised, with the month before that revised into a little over $400 million, a far cry from the $2.4 billion in January of this year. The highs go suggesting that ICO action is down 90% if we include other token increases and EOS.

Without taking”EOS and other chunky private token” data into consideration, the quantity of ICO funds raised was down 88.53 percent last month from January.  Otherwise, the fall reached 90.7 percent.  “We have scrubbed token offering information from September, and the trend continues generally to be down,” the company emphasized.

Launched in 2009, Autonomous Research is an independent research firm offering international investment research in the banking, investments, insurance, finance, and information service industries and perfect way to get bitcoin into ignition casino. Autonomous Next is the company’s London-based practice focusing on”the impact of technology on the future of finance,” the firm’s website details.

Investors Losing Interest in ICOs

Autonomous Research noted three reasons that could explain the fall in sale activity that was token. “First, maybe investors have devalued the idea of buying a utility token (does nothing however, lawfully non-binding), and instead need to purchase equity in the exact companies,” the firm wrote.  By analyzing”Pitchbook’s data on blockchain and bitcoin venture capital increases,” the firm found:

There’s indeed a effect in venture with rising drips of capital, reaching over $1 billion in August 2018.

The firm believes that there are two reasons for this observation:”fintech businesses like Robinhood and Revolut pivoting into crypto” and”Bitmain trying to vacuum up capital before the public offering.”

Security Token Offerings

The second factor for the decrease in ICO activity concerns security token offerings (STOs). According to the U.S. Securities and Exchange Commission (SEC), ICOs could be securities offerings and fall under its jurisdiction.  “STOs are the newest ICOs,” wrote blockchain adviser Michael K. Spencer, elaborating that”security tokens are real financial securities.”

Citing that investments in security offerings have not grown to advantage, Autonomous Research emphasized:

STOs will not hit on the market in earnest for another half-year at least due to indigestion.

The final reason the firm put forward relates to”the collapse/crisis in Chinese P2P lending since 2015, and whether that risk-seeking capital wound up in ICOs.”

Token sale activity stays while China tried to shut down all service providers of cryptocurrencies and ICOscloudbet site The People’s Bank of China (PBOC), the nation’s central bank, declared last month that a number of crypto trading platforms initially set up in China have left the country to operate abroad but continue to provide service to national users. In August, reported that P2P crypto lending grows increasingly common in China.

Do you think ICO action will pick up soon? Let us know in the comments section below.

Pictures courtesy of Shutterstock and Autonomous Research.

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