US and Asia Fall Behind, Europe Top in Crypto Token Sales
The US and Asia are the obvious choices to be at the top in terms of selling crypto-assets, but the truth says otherwise. New reports show Europe to be continuously taking the lead and transforming into the top cryptocurrency destination worldwide, with sales in 2018 alone doubling those of the US and Asia.
This year, there was massive funding for projects of crypto-assets all over the continent, marking Europe a dominant destination as cryptocurrency is growing in popularity every day.
Fabric Ventures started investigating ICO funds across Europe during 2018. Their report examines the effects of any changes in regulation that are taking place in Europe, and any disengagement of economics within the European Union.
There are very interesting statistics across Europe. Today, ICO fundraising has reached $4.1 billion in Europe this year. During that time the USA had just $2.3 billion and Asia reached $2.6 billion. Some regulations have benefited the investors in Europe and this is believed to be one of the main reasons why Europe is in the lead.
It states as well that ICO funding in Asia has struggled because of restrictions and regulations in destinations like Singapore and Hong Kong, where crypto-assets are being labelled as securities. Such an approach has affected the entire industry with further scrutiny.
Furthermore, it is mentioned in the report that regions like Malta or Gibraltar reached $300 million during 2018. The rest of Europe have also made their mark with impressive figures. ICOs in the UK reached $490 million, followed by Switzerland at $556 million. Another country that impressed was Lithuania with $271 million.
Europe is establishing itself as the ultimate crypto hub worldwide with such remarkable sales so far this year.