46% of ICOs Launched in 2017 Have Failed

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A study conducted by news.Bitcoin.com, revealed that out of all cryptocurrencies launched in 2017 through Initial Coin Offerings (ICO), 46% have already died, despite raising $104 million.

46% of ICOs Launched in 2017 Have Failed

Although not all the cryptocurrencies were expected to last, the reasons for failures were not usual.

Some failed at the funding stages and some later due to the disappearance of fundraisers with investors money or by "slowly fading into obscurity."

The study further indicated that 113 of those ICOs could be classified as "semi-failed." These have either stopped their communication on social media platforms or have such a small community that there seems to be no future possibility of success.

The website has studied over 900 ICOs, and have reported that the result constituted to 59% "confirmed failures or failures-in-the-making" of ICOs in 2017.

Read more about: ico
Story first published: Friday, February 23, 2018, 15:09 [IST]
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