ICO Markets Create Trading Excitement in May

Author: Myles Lansdown

Earlier in the month, we reported on the strong rebound in the ICO market. To an extent, the rebound was expected given the massive rally in the prices of Ethereum, Bitcoin and other major crypto assets.

However, if the last week is anything to go by, the ICO market rebound is continuing despite another large sell-off in major crypto assets.

ICOs Selling Out in Hours, Minutes and Even Seconds…

Sentinel reported last Wednesday that its pre-sale sold out in 17 seconds. The main sale which was held on Sunday took just 3 minutes to reach its hard cap of 7,800 ETH. This was just the first in a string of token sales selling out in record time.

We have already reported late last week on the Blue Whale ICO, a blockchain-based freelancer marketplace which saw its token sale sell out in 10 minutes. Next in line was Edenchain’s public sale which guaranteed an allocation to everyone on its whitelist, completing its token sale in less than twenty-four hours after a pre-sale which itself was oversubscribed by a factor of fifteen.

Other highlights in May included:

- PChain’s token sale, held late last week, also sold out in less than two hours. Pchain, which raised $26.7 million, is a protocol being built to address issues of interoperability and scalability on other chains.

- Egretia’s token sale on Saturday lasted 4 minutes and raised $26 million. Egretia is building a blockchain based ecosystem for HTML5 game development.

- DCC’s token sale concluded in 20 minutes, raising close to $8 million, in addition to $26 million already raised during a private sale. DCC, or Distributed Credit Chain, is looking to disrupt the entire financial system with its ambitious blockchain project.

And finally, in what may just be a record, the final stage of the Phantasma token sale lasted just 1 second. Phantasma is a next-generation messaging protocol built on the NEO blockchain. The token sale initially started on 21st May but had to be put on hold due to a technical glitch.

In total seven ICOs sold out in short periods in the space of seven days. There is no doubt that investor demand is as strong as ever, and the ICO market may even be decoupling from the broader crypto market.

Many of the tokens that came to market over the last two months are now up over 100%, whilst larger coins are back where they started. If that trend continues, we are likely to see more investors looking to ICOs to diversify away from the larger cryptocurrencies.

Full Article - www.icoexaminer.com - 29th May 2018 - Rich Bowman