EOSIO Leads In $7.7bn Funding From Top Five Coin Offerings
EOSIO has recorded $4.2 billion of the total $7.7 billion pooled by the five largest initial coin offerings (ICO) as the global cryptocurrency market continues its impressive growth.’
The record $4.2 billion pooled by EOSIO represents 55 percent of the total amount raked from the ICO that has now become an appealing alternative to time-demanding venture capital funding rounds according to data gathered and published by AksjeBloggen.
AksjeBloggen noted that the blockchain platform EOSIO represents the world’s largest ICO and is trailed by Telegram Open Network (TON) that raised a total of $1.7bn to become the second-largest ICO globally according to ICObench da.
This blockchain platform was designed to provide decentralized cryptocurrency to anyone with a smartphone, similar to Facebook’s Libra project.
The ICObench data show Bitfinex as the third-largest ICO globally, with $1bn in the total value of sold LEO tokens. Founded in December 2012 as a P2P Bitcoin exchange, Bitfinex offered digital asset trading services to users worldwide. Over time, the platform expanded its services by providing support for more cryptocurrencies. Dragon, the digital currency for casinos, follows with $320 million in funding, respectively.
Statistics show that 5,725 ICOs have been created since 2014, with a total of nearly $65bn raised. Analyzed by geography, the United States represents the leading country with 717 ICOs and $7.3bn in total funding. Singapore ranked second with 587 ICOs and $2.5bn in the total value of raised funds. The United Kingdom follows with 514 Initial Coin Offerings and $1.5bn in the total funding.
Initial Coin Offering or the crypto industry’s equivalent to an Initial Public Offering (IPO) was created in 2016 when the Bitcoin’s popularity started growing. As a type of funding mechanism, primarily used for cryptocurrency projects, ICOs provided easy access to funds for startups launching new coin, app, or service.
Moreover, this creation and sale of a new cryptocurrency token didn’t require founders to give up equity in return for the investor’s money. Their return is an increased value of the tokens if the projects end successfully.
In May 2018, the Cayman Islands startup Block.one gained a lot of publicity after raising a staggering $4.2bn for funding its blockchain platform called EOSIO, more than three biggest funding rounds of 2018 combined. Till today, the EOSIO remained the biggest ICO in the world.
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