It seems that Initial Exchange Offerings are fading away. According to statistic data published by the Director of Research at The Block Larry Cermak, the average return of IEOs falls down to 0% just in 200 days.
IEOs are dead. There appears to be a clear relationship between the return and the number of days since the IEO. The average return of IEOs approaches 0% in 200 days. In other words, nearly no one wants to hold IEOs long term. pic.twitter.com/1qX5W1VSlv
— Larry Cermak (@lawmaster) January 27, 2020
The data also shows that cryptocurrency exchange Binance is the only exchange that can guarantee a positive average return so far.
"All other exchanges are deep in the negatives. Bittrex being by far the worst," Cermak summarized.
The first large-scale (but not very successful) IEO project in 2019 was BitTorrent crowdsale. Although it attracted approximately $7 million, it also revealed organizational and technical flaws that did not allow everyone to get access to the purchase of tokens, iHodl Russia reported.
Meanwhile, Binance is about to arrange its first token sale in 2020 for the Indian cryptocurrency bitcoin exchange called WazirX.
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