Amid the bearishness of the cryptocurrency market the industry has been subjected to since the beginning of 2018, we can’t rule out the fact that the industry has also witnessed growth to an extent, and the advent of cutting-edge blockchain projects.
While speculations on the bearishness and the bullishness of the crypto market are still raging, it is potent to be aware of the current state of the cryptocurrency market to guide investors and upcoming investors on how to relate with the cryptocurrency industry and blockchain projects properly.
The Cryptocurrency Space and ICOs; Staying Informed
ICO, Initial Coin Offering, in the cryptocurrency space is a means taken to start a cryptocurrency/blockchain related project with the selling of a share of the project in the form of digital currency/token to raise fund. The digital currency sold could be traded when the platform is fully established to some extent, or held by the recipient for necessary use afterward.
A means of survival of the cryptocurrency and blockchain industry is the ICO, which serves as a springboard for most crypto projects.
Notably, the growth of the cryptocurrency ecosystem is seen in the flooding of crypto startups venturing into space through ICO.
The pioneer ICO in the cryptocurrency space was launched in 2013, by a company named Mastercoin (now called Omnilayer) and it raised USD 500K. The entrance of the Ethereum project into the cryptocurrency space in 2014 and the total of funds raised spurred the surge of 64 major ICOs in 2016. The year 2016 was described as a year of blockchain tech disrupting venture capital. A total of $103 million was raised through ICOs.
Meanwhile, in 2017, the cryptocurrency industry experienced a massive bullish trend, a total of 552 ICOs was recorded with a volume of over $7 billion. Notably, 46 percent of the ICOS launched in 2017 have failed due to one reason or the other.
Further, the year 2018 has seen a blockbuster of ICOs despite the bearish trend of the cryptocurrency market. As of June 2018, a total of 537 ICOs with a total volume of more than $13.7 billion was recorded. Also, the average size of an ICO almost doubled from $12.8 million in 2017 to over $25.5 million in 2018. This is a testament to the increase of investment and trust in the cryptocurrency space despite the bearish trend. Meanwhile, July to October 6 has seen the addition of more 207 ICOs in 2018.
The Trading Of the Top Value Cryptocurrency, Bitcoin
The top value cryptocurrency, Bitcoin is mostly seen as an insignia of the cryptocurrency industry. The value has been linked with the stability of the industry, mostly.
The cryptocurrency market has shrunk and bitcoin has also been through a hard time. A statistics of last three months volume of trading shows that in September its ranged between $2.8 billion and $7 billion. Also, it reached a low point of $3.5 billion in September 2018. However, Bitcoin has seen stability within $7,500 and $7,800 since the beginning of October.
Trustworthy Cryptocurrency ICOs For Interested Investors
While there was a surge in ICOs in 2017, over 46% has failed and many struggling. However, there is some distinctive and successful project amid the turbulence.
Further, 2018 has seen a greater number of ICOs, however, investing in credible ICOs is the only thing that’s worth it for investors.
Investors can venture into these crypto projects, much especially in the 4th quarter of 2018, such as EOS telegram ICO, tzero, Bankera, Huobi token, Basis among other had worth checking out.
EOS telegram raised $1.7 billion through its ICO, and EOS raised more than double at the time. The feasibility of these two projects, the team behind it and the solution they offer through their project made the two among others very good ICOs to babble into.
Conclusively, there is still a lot of potentials to be exploited in the cryptocurrency and blockchain space. Notably, the bearish market has not diminished the trust as investors are still sticking their securities into the industry.
Though unworthy ICOs are in existence, they are still going to evade with time as the industry sees more growth, just like the dot-com era, the present volatility and problems will give way to a more flourishing industry.