The number of ICOs launched in the second quarter of the year grew by 49 percent, a new report states. The amount of money raised, however, indicated that investors were less excited at the prospect of investing in ICOs, as it fell by 12 percent. Finance and commerce ICO projects took the lion’s share of the money, with entertainment coming in third. The number of projects that hit their hard cap also fell, with investors remaining cautious in the wake of huge market volatility.
Several countries are racing to become the world capital of cryptocurrency technologies. Bermuda, Gibraltar, and Malta are now competing with France to lure cryptocurrency companies to establish headquarters in their respective capitals.
Advancing Initiatives to Expedite the Growth of the Crypto Industry
Tax havens and business paradises such as Bermuda, Gibraltar, Liechtenstein, and Malta are fiercely strategizing about how to attract crypto entrepreneurs. These countries and territories are passing or easing legislation to make their environments more enticing for crypto businesses. The New York Times reports,
The Russian crypto sector is expanding. The number of businesses operating mining facilities has increased this year, more Russians own cryptocurrency. Data confirming these trends has been presented by the country’s crypto and blockchain association, which also warned that delayed embrace of digital financial technology costs Russia a trillion rubles each year.
75,000 Businesses Mine Cryptocurrencies in Russia
The Russian Federation, a vast country rich in energy resources including cheap electricity, has what it takes to become a major crypto mining destination. Recently released statistics show that this modern sector of the economy is rapidly developing.
While everyone currently in the cryptocurrency space eagerly awaits the supposedly inevitable flood of institutional money, questions have been asked as to where said funds will go. Element Group’s Thejas Nalval claims Bitcoin is “number one on that list.”
The cryptocurrency market is currently supersaturated with failed and soon-to-be-failed projects. Nevertheless, the cream rises to the top and there are currently numerous contenders for the top spots. So where will institutional investors put their funds, if and when they decide to enter the market?
There are now more than 800 coins which are essentially dead. However, the market for Initial Coin Offerings (ICOs) continues to boom in 2018, raising almost $ 12 billion in the first two quarters alone.
Lots of Flaws
ICOs have surely become a hot topic in the last year and a half. This alternative fundraising method saw its massive upswing of interest in 2017 when it managed to reach upwards of $ 3.8 billion of capital raised. Yet, the first two quarters of 2018 have dwarfed that number, raising almost $ 12 billion, according to Coinschedule.
Trading bots have been playing an increasingly important role in the world of cryptocurrency. That in itself is a very positive development, although it may lead to a lot more speculation and volatility. It seems a few bots are making their mark on the South Korean cryptocurrency industry these days, which is well worth keeping an eye on.
The Rise of Trading Bots in South Korea
Most people will know by now that South Korea plays a critical role in the world of cryptocurrency. Its local exchanges generate a lot of volume, mainly because South Korea overtook both China and Japan in terms of trading volume quite some time ago. Even so, any development taking place in South Korea is worth taking note of, as it may spill over to other parts of the world as well.
A year after the Japanese government recognized cryptocurrency as a legal form of money, bitcoin payments are steadily going mainstream. Bic Camera is one of the most profitable electronic, cosmetic and duty-free goods stores in Japan. It has now revealed that even though less than 1% of payments have been made in BTC since it started accepting bitcoin last year, the number of Japanese bitcoin spenders is slowly and steadily increasing, it observed.
SEC Commissioner, Robert Jackson says that the commission’s number one priority is consumer protection for crypto investors. He made this known in a CNBC interview on April 30. Commissioner Jackson also aired his views on the crypto market, saying it is “full of troubling developments.”
Protecting Crypto Investors from Fraudulent ICOs
The SEC Commissioner believes that people find it difficult separating viable investments from fraudulent ones in the crypto space.
He also spoke about ICOs, the preferred fundraising vehicle for crypto enterprises, saying that:
Bitcoin was huge in 2017 as Bitcoin Google searches came in at number two on Google Trend’s list for global news.
No matter how you slice it, 2017 was the year of Bitcoin and cryptocurrency in general. As the daddy of all crypto began to shoot up in value, people began to take notice. Headlines were made again and again as another price barrier was broken. So, how hot was the virtual currency in 2017? Google Trends released their list of the top trending topics for 2017, and Bitcoin Google searches came in at number two on their global news list.
On today’s episode of The Cryptoverse:
One of the largest Bitcoin miners in China has suggested that the price of Bitcoin could reach ,000 or even as high as m and Ethereum’s developers have unveiled new details about a technical fork aimed at resolving lingering network issues.
Please Support The Cryptoverse Podcast by visiting the Cryptoversity Store:
Please Support The Cryptoverse With A Bitcoin Donation:
Subscribe to the podcast here:
Today’s episode is sponsored by TunnelBear, the simple VPN app that makes it easy to browse the web privately and enjoy a more open and secure Internet experience. [Try it for free here](http://click.tunnelbear.com/SH8n)