Ethereum remains monopolistic platform for ICO; Stellar, NEO Follow the lead


Ethereum remains monopolistic platform for ICO; Stellar, NEO Follow the lead

Despite the decreasing number of ICOs, Ethereum is still dominant in the industry as it is used by over 85% of all ICOs, leaving Stellar and NEO far behind.

Decline number of ICOs Coudn & # 39; t Dethrone Ethereum

ICO platforms
ICO platforms

Graph showing the breakdown of the ICO platform (Source: CoinGecko)

However, the decline in the number of funds raised by ICO in the third quarter did little to dethrone Ethereum as the best ICO platform.

The report indicates that the ICO market is still predominantly dependent on the Ethereum ERC20 standard token, with over 85 percent of successful ICOs issued Ethereum.

However, the report showed a growing trend to issue tokens on other platforms. And while the difference between the number of ICO issued Ethereum and its second competitor Stellar is stunning, demonstrating a bright future for future platforms.

Just under 6.5% of the 193 ICOs were launched on Stellar, while NEO, arriving third, hosted 3.6% of the ICO market. NEM, a platform that launches faster transaction speed with a lower transaction cost has seen an increase in ICOs issued, coming in fourth place with 2.4%.

However, EOS still has to take off with only one successful ICO issued using the platform.

The current state of the ICO market

ICO funding falls to its lowest point in a year due to the encrypted bear market
Related: ICO funding falls to its lowest point in a year due to the encrypted bear market

The ICO market has been continuously decreasing from one quarter to the other, the report shows that the slow downward trend in cryptocurrency prices and the market value that characterized 2018 continued in the third quarter.

However, despite the downward trend that plagues the cryptography market, CoinGecko data show that trade volumes have grown steadily. Four of the first five cryptocurrencies in use today are more valuable than they were in November 2017, with being the loser Ethereum.

According to the report, the fact that Ethereum it is down 22% from the previous year, most likely due to the decrease in the number of ICOs, as only 388 ICOs (of which 193 were successful) were launched in the third quarter of 2018.

Ethereum, currently in second place by market capitalization, is active 0.52% in the last 24 hours. ETH has a market capitalization of $ 20.65 billion with a 24-hour volume of $ 1.43 billion.

Graph of CryptoCompare

Ethereum has risen by 0.52% in the last 24 hours.

Cover photo by Daniel von Appen on Unsplash

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Priyeshu Garg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds a degree in engineering in computer engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager and worked with several Fortune 500 companies along with small businesses. When he does not solve transport problems in his company, he can be found writing on the blockchain or on roller skating with his friends.

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