Connect with us


Ernst & Young report: 86% of ICO tokens are traded below the starting price of



Ernst & Young, a member of the Big Four auditors, has published a report on the price dynamics of tokens issued as part of ICO. It turned out that 86% of such coins are traded below the price when listing, and 30% have lost any value at all. At the same time, only 10 of the estimated 372 demonstrate reverse dynamics.

At the same time, charges of 110 out of 372 projects accounted for about 87% of the total investment in ICO, and only 25 have a working product or at least a prototype.

It is noteworthy that, according to Ernst & Young, not a single blockchain platform has been able to compete with Ethereum, although infrastructure projects have shown the best dynamics.

The company's experts are convinced that the volume of retail investment in the industry will decline, and venture capital firms and investment funds will take their place.

At Ernst & Young, they intend to re-audit the token portfolio in another year.

Earlier, Ernst & Young acquired technological assets and related patents from the American startup Elevated Consciousness, which included a tool called Andy Crypto Accounting and Tax (CAAT).

CAAT will be integrated into a portfolio of solutions called Blockchain Analyzer in order to create the most comprehensive set of technology services in the field of tax reporting and insurance.

Subscribe to BlockchainJournal news on Facebook !

<< aside id = "unisender_subscribe_form-10" class = "widget unisender_form">