46% of ICOs Launched in 2018 Have No Business Plan

Market research on the ICO market in the first quarter of 2018 conducted by ICO Rating reveals that institutional investors are playing an increasingly large part in funding blockchain projects despite many of them having no development before they are launched. The report says that $3.3 billion dollars have been raised so far this year over 412 projects. This figure only counts money raised from completed ICOs (as opposed to pre-sales and unsuccessful/ongoing projects) and excludes the now-discontinued ICO of Telegram. According to the report, only 9 percent of ICOs came from pre-existing businesses, while 46.6 percent of these fundraising projects had no development before their ICO campaigns.

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