ICO Funding In Q1 2018 Surpasses 2017’s Total
According to data collected by CoinDesk, Initial Coin Offerings (ICOs) have raised a total of $6.3 billion in just the first three months of 2018. This figure represents approximately 118% of the total funding received through ICOs in 2017.
Notably, Telegram – an encrypted messaging app frequently used in the cryptocurrency community – accounts for a substantial amount the total funds raised. In 2018, Telegram raised a total of $1.7 billion during its token sale.
Despite the widespread success of ICO campaigns, regulation has seemingly ramped up in 2018. One sign of regulatory scrutiny came from SEC Chairman Jay Clayton, who, in a February Senate hearing, said “every ICO I’ve seen is a security.”
Despite wild price fluctuations in the first quarter of 2018, it appears that investors are still eager to dive into the cryptocurrency and ICO market, despite the regulatory risk.