Welcome back to the Crypto Divas and our first video for 2019. Liina and I did a bit of a look back at 2018. Liina is currently writing an article for a local Estonia newspaper and is delving into the figures behind ICOs and their fund raising. It will make for interesting reading especially the fact that despite the raging bear market all year more funds were raised through ICOs than in previous years.
There are a number of comments to add to this.
The first is that of course that includes the two big rounds – $4billion with EOS and $1.2billion for Telegram.
The second is that STOs are becoming more popular and more profitable – which makes sense as punters now own a part of the project. That does two things – for one it invites greater confidence and hence investment, and for two there is less churn or pumping and dumping as investors have an idea about the project and act more responsibly. It was thought originally that through crowd funding and large numbers of retail investors getting behind a project that community would develop organically but in fact this was not the case and retail investors acted much the same way as large institutional investors did. Bit of a case of two legs good, four legs bad.
Another factor is that the stronger the project the more likely it is to get funded – the scammy back of a beer mat projects are no longer being funded. So while there were more than 5000 ICOs registered last year only 1000 or so were founded. That sounds pretty Darwinian and no bad thing
Once Liina’s article is published we will share it on our site. She reckons 2019 will be STO, STO, STO.
I recalled some of the big names at the start of the year who have since got a bit quiet. Tim Draper has the head down, the Winklevoss brothers are licking their rejected ETF patents, Tezos is not really spoken of anymore and even our old favourite Jamie Dimon is noticeable in his absence. I‘d love , love, love him to show up as CEO of an STO this year – wouldn’t that be fun!
Binance and CZ are still dominating the news – for pretty much positive things. And Patrick Byrne, CEO of Overstock is back in the news as he looks to take up the state of Ohio’s offer to pay his taxes in bitcoin.
So, lots of good stuff happening – including the Crypro Divas doing our stuff – please like and share – go on, you know we are worth it!