The market for initial coin offerings has been red-hot this year, as more startups look to raise capital by selling virtual tokens. But one report reveals few of the tokens remain in use after the fundraising.
Bloomberg this week reported that less than one out of 10 tokens issued in ICOs are in use following the sales. The report was based on data collected by Token Report, which looked at 226 ICOs and found just 20 of their tokens are used for running the networks. Token Report CEO Galen Moore told Bloomberg most tokens could only be traded as purely speculative instruments. Read more.