Cryptocurrency sales slow down

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Cryptocurrency sales slow down

June 05, 2018 - 16:00
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Cryptocurrency sales increased this year to $9,1 billion exceeding total $6,6 billion for 2017, Reuters reports with reference to finance technology provider Autonomous NEXT. However, monthly data actually shows slowdown if two largest offerings are excluded.

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Cryptocurrency sales increased this year to $9,1 billion exceeding total $6,6 billion for 2017, Reuters reports with reference to finance technology provider Autonomous NEXT. However, monthly data actually shows slowdown if two largest offerings are excluded.

Digital currency startups around the world are attracting money through sale of digital coins that exclude banks and venture capital firms as intermediaries.

Total sales of $9,1 billion include digital money offering from Telegram and EOS currency from Block.one. Telegram raised $1,8 billion this year, while EOS got about $4 billion during a year started on June 2017.

If these two cryptocurrencies are excluded, then monthly sales come out as low as $560 million compared with record $1,5 billion in December 2017.

Experts think that sales actually slowed down due to growing uncertainty in regulatory field, problems with taxes and lack of software.

Regulatory bodies around the world lead by US Commission on Securities and Exchanges issued a whole range of rules that made investors pause on cryptocurrency purchase and stopped new offerings.

Experts assume that regulatory issues will be solved. It there are difficulties with Western bodies, then there are many other jurisdictions that are cryprocurrency-friendly.