Red Week: ICOs Collect Least Profit Since Start of 2018
This year alone, ICOs have managed to raise billions of dollars and have sold over $6 billion worth of Ethereum coins. Most of the successful ICOs were very creative ideas aimed at football clubs, private jets, land, and more.
ICObox offers ICO management services, and also allows the users to see numbers and analytics for fundraising campaigns. According to them, this week was very negative compared to the rest of 2018 for the assets. They explained further saying that the total amount collected for this week is as little as $14.8 million. Also, while 36 start-ups planned to completed their ICOs, only 4 were able to reach their targets.
Moreover, over 50% of the total amount collected this week belongs to Fondocoin. This ICO is the highlight of this week as they offer investors the ease, security, and speed of trading cryptocurrencies, giving them a huge edge over other traders. This ICO, alone, has collected over $6 million in funds.
Sadly, it seems like this week, the soft cap has not been collected. The term “soft cap” refers to the minimum amount of money needed by a project.
Still, some ICOs keep their name very interesting. For example, Bytemine has raised over $38.5 million on presale. That is more than double the total amount collected by the other ICOs together. On top of that, the numbers are still growing because the platform is still on presale.
ICOs , at the moment, hold over $1 billion worth of Ethereum coins. This is because the price is low at the moment, trading between $270 and $290. Most of the holders are not trading at the moment; only 28,709 ETH has been sold over the last week, and a large transaction between Digix Global and Gemini displayed a 54,000 ETH transfer.
The daily average of the ETH sold is between ETH 15,000 and 20,000, adding to the 20,000 for miners.