ICO Projects Sell 416 000 Ethers In November
The ICO industry has set a new record. According to the data feed platform Santiment, startup firms that raise money through initial coin offering sold out more than 416 000 ETH in November 2018.
The teams participating in ICO sold about 100,000 ethers in August. In September, the sale rate rapidly increased to 300,000 ethers. Two months later, the value reached 400,000 ethers.
It is noteworthy that the peak of ETH sales was recorded in the first quarter of 2018. In March, ICO projects managed to sell 630,000 ethers in a single day despite a threefold decrease of ETH price. Ether reached its historical maximum in the middle of January 2018. Back then, the coin was traded at $1427, but in April, it went down to $400, according to Binance data.
Santiment’s report shows that Kyber, Aragon and SingularDTV are the largest startups participating in ICO. Meanwhile, the total amount of ethers that have not yet been sold by ICO projects reaches almost 3 million, which is approximately $250 million.
Amid the crypto market downtrend, the popularity of ICO startups among investors and development teams decreased as well. The majority of projects turned out to be fraudulent or not professional. This alerted the audience, which now tends to follow a moderate investment strategy and thoroughly study each startup.
Previously, Blockspoint did a review of the most interesting ICO projects in 2018.