Crypto Market Sees ICOs Raise Over $1.5 Billion in June
There is no sign that cryptocurrency is a bubble that’s bursting. New figures from June reveal that the newest ICOs in June raised more than $1.5 billion worldwide. Although this figure is slightly reduced from the previous month ($1.8 billion), it still represents an impressive return considering that many so-called experts in the financial sector had predicted that the reduced price of Bitcoin earlier this year was the death knell for cryptocurrencies. According to new data from ICO tracking site ICObazaar, some 81 new ICO projects were kickstarted in June, helping to generate the fourth-highest month of ICO fundraising since the craze began.
June’s most successful ICO: HybridBlock
June’s best-selling ICO was HybridBlock, raking in more than $47 million. The concept of HybridBlock is geared towards those investors who are beginning to learn about the benefits of cryptocurrency. This all-in-one cryptocurrency trading system is powered by the Ethereum blockchain. Its recent ICO has seen users invest in HybridTokens (HYB) which will play an integral part in the running of the HybridNetwork. Those who buy HybridTokens will benefit from discounted rates and exclusive access to new services, as well as the ability to trade HYB against other cryptocurrencies via the HybridBlock’s dedicated HybridExchange or TradeBase.
From a basic level, the HybridCentral platform will also help those looking to learn more about cryptocurrency, with a gamified educational system geared towards enhancing investors’ blockchain knowledge and skills.
FANTOM: The world’s first DAG-based smart contract platform
The second best-selling ICO to make waves in June was Fantom. If you’re wondering whether to invest in Fantom, it’s worth knowing that it is a South Korean blockchain firm looking to provide instant transaction confirmation and transaction fees of only one cent. Fantom proudly states it is the first Directed Acyclic Graph (DAG) based smart contract platform. What does this mean? DAG is fast becoming one of the primary competitors to blockchain technology. This well-known data structure in computer science is being used to create an infrastructure for cryptocurrencies where there are no fixed blocks and where each transaction carries its own proof of work. It’s suggested that DAG could help create a system that’s as fast as Bitcoin, or faster.
CoalCoin: Technology meets tradition for the global coal industry
Finally, the third best-selling ICO in June was the CoalCoin, the first blockchain system built for the global coal industry. It was very much a close third in the ICO stakes for June, raising $37.2 million compared with Fantom’s $37.85 million. According to the CoalCoin whitepaper, the global coal industry market is expected to be worth over $1 trillion, with more than 50 countries mining coal commercially. CoalCoin (CIC) has been developed as a decentralised and borderless coal mining payment system, fulfilling the needs of both the macro and micro coal mining economy; providing transparent transactions for everything from large scale transactions with international remittance through to small scale transactions between local and national beneficiaries.
Although the United States has sought to clamp down on the number of ICOs in operation, the vast majority of ICO activity is going on away from North America, with Europe and Asia blazing a trail for crypto investors.