According to the analytical company Blockchain Elementus, Singapore is attracting more and more blockchain startups, and in August 2018 for the first time bypassed the United States in terms of the number of ICOs held in its jurisdiction..
The gradual strengthening of control in the States leads to the fact that young crypto companies are looking for more favorable conditions for launching projects. Although it is still impossible to say for sure whether this trend will continue in the future, the Singapore government has begun to restructure the legal framework for the full regulation of the ICO market..
Elementus analysts have calculated that the IPO market attracted about $ 28.4 billion at the beginning of September. She also argues that, despite the general crisis in the crypto market, the ICO market is now at a level comparable to last year. In August last and this year, almost the same amount of investments was attracted ($ 1.4 billion). From February to August of this year, $ 15.9 billion was raised, despite the bearish trend.
The company notes increased competition among startups and a more selective approach from all groups of investors. This led to a decrease in the share of projects that were able to raise more than $ 100 thousand, from 84% to 22%. Now no one can raise $ 100 million with only white paper and promises.
This data correlates with estimates from consulting firm GreySpark, which claims that 46% of ICOs between 2017 and August 2018 failed to raise a single dollar. investment.
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text: Ivan Malichekno, photo: Pixabay