ICO Alert Crypto Minute July 24, 2018
ICOs challenge investment banking, World’s first decentralized bank, Bitcoin rises in price and crypto dominance
ICOs make inroads on IPOs
According to Forbes.com, initial coin offerings represented 45% of the traditional IPO market in Q2 2018. ICO volume during Q2 2018 was approximately $7.2 billion while the US IPO market raised $16.0 billion. Expect this trend to continue as ICOs reach a broader investor audience and reduce the cost of raising capital.
Binance invests in Founders Bank
According to a July 12th press release, Maltese company Founders Bank will launch its first Equity Token Offering [ETO] on the Neufund platform. Founders Bank will be a decentralized bank owned by any purchaser of its token-based equity. Founders Bank has secured early investment from Binance founder Changpeng Zhao.
Bitcoin Hits 2-Month High, Dominance Rate Rises
Bitcoin’s (BTC) price has reached a two-month high and looks to extend its gains according to a key cryptomarket marker. According to Coindesk, the Bitcoin dominance rate increased to 46 percent — the highest level since December 20. A rise in the BTC dominance rate means the number one cryptocurrency is more in demand compared to the alternative cryptocurrencies.
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