ICO News: Singapore hosts more ICOs than US during August

For the first time ever, Hong Kong hosted more ICOs (initial coin offerings) than the U.S. during August, analysis from Elementus reveals.

ICO News: Singapore hosts more ICOs than US during August

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U.S. clamps down on ICOs

Thanks, in part, to tightening restrictions on ICOs, along with cryptocurrencies generally, in the U.S., Singapore managed to host the most during the month of August.

The small city-based state hosted 17 token sales, whereas the U.S. was only host to 15; whether this trend will continue remains to be seen.

Singapore, along with Gibraltar, Malta, and Switzerland, has established itself as one of the least restrictive countries in terms of crypto and ICO regulations and, as such, has become a hotbed for token sales.

Other high ranking countries in terms of ICOs launched during the month of August, include the UK, which hosted nine token sales, and Switzerland, which hosted five, respectively.

It’s not I-C-Over yet

Although some experts and analysts have publicly declared the ICO gold rush all but over, not everyone agrees and this latest data certainly tells a different story.

Max Galka CEO Elementus

Indeed, Max Galka, CEO of Elementus, said: "There is a widely held belief that the market for ICOs has all but disappeared... But the data tells a different story."

A brief history of token sales from Elementus

"All signs point to a maturing ICO market," Galka continued. "The latest figures suggest more realistic risk assessment by investors."

In addition, pre-product startups, which were dominant in late 2017 and early 2018, took a back seat to established businesses, such as the London Football Exchange, Dfinity and tZero, all of which closed $70m+ offerings last month.

"Disparities in blockchain transaction figures have made it virtually impossible to determine what's going on.

“The reason for these misleading stats is the inaccessibility of blockchain data, which is stored in a convoluted, non-readable format that serves functional purposes by being optimized for efficient computation but not human use."

"This has given even the most conscientious journalists no choice but to rely on incomplete and unverified reported figures compiled from the web.

Our mission at Elementus is to correct this with a new protocol that gives direct access to 'ground truth' – the actual on-chain data,” Galka concluded.

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