We want to update Tradershub community on the course and completion of the ICO campaign and the project’s future.
Despite our community’s generous contributions, we did not manage to reach our softcap target. We’d be lying if we said we are not disappointed. We have invested a lot of effort, time and money in the project and gave up many things along the way. Unfortunately, it was not enough. But nevertheless, all invested ETH are safe and will be refunded to our contributors in the upcoming days. Consequently the THT has self destruct, and no actual THT tokens will exist anymore. We will post details regarding refunds shortly.
When someone thinks or says that this ICO did not succeed due to one ultimate reason, they should first get their facts straight. We started our ICO in the light of highest optimism on the market and ended in lowest possible in months. When we started our campaign ETH was traded at $1200, and it’s today value is 60% less. The whole cryptocurrency market dropped more than 50%, most of last ICO projects are below their ICO price and several projects were postponed.
We were transparent and sincere to our supporters all the way. We provided our community with all the latest information about the company’s decisions on a regular basis and answered all questions we received about the project. We’ve also made several important announcements and made some great partnerships. All ICO operations and marketing was financed with our own resources within the team, not from capital raised with the help of our supporters and not a single ETH has been withdrawn from the Tradershub contribution wallet.
Success or failure of ICOs is influenced by several factors and it would be unfair and unobjective to point a finger at a sole culprit. But looking back will bring us nothing. We are now stronger than and even more determined that our idea has a market potential. Fundamentally nothing changed, except the market conditions.
We are very grateful and proud that Tradershub was supported and endorsed by the one and only John McAfee. His exposure has brought a lot of public attention to the project, mostly from American audiences. To our misfortune due to United States investment regulations US citizens could not participate in our token sale which in addition to all other factors that also contributed to less collected funds. We also had a number of influential traders on our side and we are thankful for all the support they showed us.
The current state of the Crypto Market and ICOs
As almost all cryptocurrencies significantly suffered as a result of the Bitcoin pull-back, it cannot be denied that we are currently experiencing a bear market.
ICOBench statistics show that February and March were one of the worst months in the history of ICO projects: in March, around 160+ projects collected only $443 million. To put these numbers in perspective: in January, 150 projects collected more than $1.1 billion, and in December 2017, approx. 200 projects raised around $1.5 billion. The number of projects doing ICOs is growing, however, the total funds raised have dropped by an enormous margin.
Tradershub main objectives are to build a solid trading community and a powerful single point of interaction with the cryptocurrency markets. Our goals remain unchanged despite the outcome of the ICO, but the unfortunate fact is that time delay of the project execution is inevitable at this point. We can’t change the current market conditions, but we can and will always make sure that our decisions and actions are done in the best interest of our supporters and Tradershub community as a whole.
We’ve been a bit less active in terms of “frontend” news over the last couple of weeks, but it was all for a good reason — we’ve been working around the clock on the Tradershub project. We are talking with several strategic investors in order to find a new path that will allow us to continue the project.
We have received a lot of encouraging words and support, which confirms that our journey to this point was not in vain, and encourages us to continue our path towards our goals. A big thank you is in order to everyone who helped and supported us, and those who still do so. We will bring Tradershub to life.
All the best,