Of the 902 New Cryptocurrencies Launched in 2017, 46 Percent Have Failed

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Everyone, it seems, has been talking about cryptocurrencies, and more than one savvy entrepreneur has thought about developing one of their own. But before buying into the latest Initial Coin Offering (ICO), take note that a recent study has found that, of the 902 ICOs launched last year 46 percent have already failed, according to Bitcoin.com. Specifically, 142 failed at the funding stage and a further 276 failed afterwards, either due to lack of interest or outright fraud. Many of the survivors aren’t looking that good either, though: 113 ICOs can be classified as “semi-failed” either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. So, according to Bitcoin.com, 59 percent of last year’s ICOs are either confirmed failures or are likely to fail soon. Bitcoin.com noted that many of these coins looked shady from the start and were shunned by savvy investors. The rest? Well…

By contrast, a 2016 article in the Financial Times looked at 17 out of 167 IPOs failing and called this 10 percent figure a “record high.” 

Read more at;

https://www.nysscpa.org/news/publications/nextgen/nextgen-article/of-the-902-new-cryptocurrencies-launched-in-2017-46-percent-have-failed-022618

 

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