BitMEX Research: 2018 ICO Almost Loss-Free
October 2, 2018
ICOs have almost got breakeven when taking account of raised versus sold funds, as the study by the BitMEX exchange says.
With support of TokenAnalyst the study has suggested that despite ETH price sinking in 2018 ICO projects still have $93 million of “unrealized profits”.
Moving on, net profit of successful ICOs is as high as $727 million.
This year ICO investors have faced severe challenges. For instance, Diar data show that 70% of the projects are evaluated less than during ICO.
“Outside the Top 100 cryptocurrencies being traded, there is a $5 Billion shortfall against the total amount raised during an ICO for the 562 tokens with reliable information about their fund-raising”, Diar experts say.
Although ETH price has risen lately, BitMEX presumed that the currency downfall is very unlikely to impact ICO projects.
“As a tool to raise funds, the ICOs have clearly been a phenomenal success, to such an extent that even a further significant fall in the value of Ethereum will barely make a dent into the success”, BitMEX report continues.
Meanwhile crypto market analysts like Fundstrat’s Tom Lee has voiced the idea that ETH is to rise up to $1,900 by the end of this year.