CEO of BitMEX ridiculed the results of the ICO 2018. Why?

The research team of the exchange BitMEX in cooperation with TokenAnalyst presented an interesting report. In accordance with him, presumably 24.2 billion dollars ended up in the pockets of the teams that stood out for a variety of ICOprojects in 2018. Of course this number is slightly inflated because due to protracted bearish stock market she was able to be pressed down up to $ 5 billion. BitMEX CEO Arthur Hayes makes fun of bad CryptoStream. He says now they are reaping the fruits of their worthless ICO.

As writes the CCN, the study is based on data for 108 tokens whose market capitalization at historic highs in December 2017 in the aggregate reached $ 80 billion. That is, at the moment, the index was blown away roughly 70 billion. However, it is clear that in that moment it was impossible to profitably sell tokens because of liquidity problems.

Due to the fall in prices of cryptocurrencies to team ICO, which once issued tokens for $ 24 billion, has lost at least 54 percent of this amount. Currently CryptoStream hold illiquid tokens 5 billion. The researchers warn about the risks of cooperation with such projects as the evaluation of their savings can be greatly exaggerated due to almost complete lack of liquidity.

These data were collected in the study of smart contracts in the blockchain of Ethereum. As recognized by the analysts themselves, the analysis cannot be considered thorough. However, it at least allows you to make some reasonable conclusions about the current state of the industry ICO. The article concludes that the team could earn up to $ 13 billion for the ICO – this is a more realistic figure. A good result, given how little effort was applied. More data look at cryptodata.

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