ICO Pre-Sales Dominate Crypto Market making the Rich Richer

According to Token Data, the majority of ICO’s launched raised their capital required during the private sales and pre-sale rounds with some halting sales before offering to the public.  

 

 

These pre-public sales offer generous discounts and as these tokens are launched on exchanges quickly, opening up to the public, early investors have the opportunity to turn a profit very quickly making the investors who have connections to the ICO a lot richer faster.  

 

Reported by Quartz, People are already flipping the Telegram ICO for millions, even though it’s not on sale yet. The Telegram Token sales are only due to go live in March yet profit taking has already begun. The Telegram ICO has a target of $1.2 billion which would make it the largest crypto token sale to date.

 

 

There are two types tokens, most commonly created on the Ethereum network. One of them is asset-backed securities which means it represents the physical or virtual goods of that token, subject to federal securities regulations.  The other class is a utility token basically used to buy goods and services.

 

ICO’s are BOOMING  – The number of coins/tokens listed on the CoinMarketCap website currently stands at 89 tokens/coins which have been added over the past 29 days, mostly ICO’s, adding up to just over 18% of the cryptocurrency market cap.

 

 

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