Altcoin News: In the First Quarter of 2019, ICOs Raised $118 Million

April 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Cryptocurrency startups managed to raise $118 million through ICO in the first quarter of 2019, that is, 58 times less than in the same period last year, when $6.9 billion was collected. Such data are reported by Wall Street Journal with reference to the TokenData portal.

According to the WSJ, investors are deterred by regulators ’actions against non-compliant ICOs, the proliferation of fraudulent schemes and an overall decline in the market.

Of the 2,500 projects analyzed by TokenData since 2017, 55% failed to attract funding, and of those who attracted, only 15% traded above the ICO price.

The article also cites the words of lawyer Joshua Kleiman, who believes that the idea of ​​ICO, despite the presence of many negative examples, deserves development, perhaps in the format of placing digital securities after defining the necessary legal concepts by regulators.

Earlier, ICObench data showed that in the fourth quarter of last year, the amount of funds collected by ICO was $1.4 billion, in the third — $ 1.8 billion.

Author: Marko Vidrih