ICOs have raised more funds in the first 90 days of 2018 as opposed to the entire 12 months of 2017. Some offerings that have done exceptionally well this year are EOS, Telegram ICO, and Ruby-X.
Initial Coin Offerings have given the much-needed platform to both established and startup businesses to raise funds. Plus, the investors also got excellent investment opportunities because of these token sales. According to a recent estimation, more than 20 billion USD had been raised in the first nine months of the year in 790 ICOs.
EOS is a Blockchain project, which raised more than 4 billion USD and contributed to about one-fifth of the total amount collected in 2018 out of Initial Coin Offerings. Creators of the project have promised to keep aside a significant portion of these funds towards projects, which use and develop the EOS platform.
According to a report, Telegram succeeded in raising 850 million USD and 1.7 billion USD in two of its ICOs this year. These Initial Coin Offerings were conducted respectively in the month of February and March this year.
Meanwhile, Ruby-X is another ICO in 2018 with an impressive collection. It was launched on August 10, 2018, and lasted till September 17, 2018. According to an estimation, the ICO has collected about 1.1 billion USD. The aim of this new project is to offer an exchange platform to purchase and sell crypto assets, according to CoinNewpress.
ICOs Have Come A Long Way
In other news, a consultancy firm based in the United Kingdom believes that the ICOs have matured over the years and especially in the current year. In 2013, when the concept of ICOs was floated for the first time, only two projects were launched.
As compared to that scenario, ICOs in 2018 have come a long way. They have gained a lot of momentum and have raised funds worth billions of USD globally. In the ICO space, Singapore, the United States of America, and the United Kingdom are the top players today, BTCMANAGER reported.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]