An in-depth look into why ICOs are surging in popularity despite market problems including over 800 dead coins.
Last week, RadarZero reported that over a thousand ICOs have failed over recent years which has left at least 800 dead coins and billions of dollars lost on failed projects in the cryptocurrency market.
From a negative perspective, it’s easy to see why ICOs fail since so many are built on false promises or are just blatant scams. According to a report from Bitcoinist, an estimated 20 percent of ICOs are scams.
Bram Cohen, BitTorrent’s creator, claims all ICOs are scams until proven otherwise. Despite the rate of dead coins in the market and consumers having a general lack of trust in them, how has the ICO market managed to raise almost $12 billion during the first two quarters of 2018?
Numbers Don’t Lie: ICOs Popularity is Surging
According to current statistics from CoinSchedule, over 500 new ICOs were created during the first six months of 2018. In the next few months, the market will have replaced all 800 dead coins that have been reported.
The ICO market is moving so quickly that if you invested in every visible ICO right now, you’d still make over 13 times your original investment regardless of the various schemes and problems which plague the market.
Those numbers don’t lie. As for the reason behind the numbers, that could be a result of regulators and institutional investors getting involved at the perfect time. For a market that delivers a 13 percent return on your investment at the moment, why wouldn’t you invest in the ICO market?
