7 Biggest ICOs Ranked By Amount Raised

This article will bring you to the list of the biggest ICOs ranked by amount raised. Insider Monkey has recently published an interesting article about it. Personally i really don’t know much about cryptocurrencies, that’s why I always welcome Insider Monkey’s articles in this field. Well researched, well-written articles are published on their sites, so it’s a pleasure for me to write about these compilations. Bitcoin was the first cryptocurrency and it was launched in 2000s. Since then various cryptocurrencies were launched like Ethereum, Ripple, Litecoin and they made their way into the market.As blockchain technology started to gain traction, more startups in the field emerged, and while some resorted to conventional ways of finding capital, like issuing equity and finding investors, others decided to appeal directly to users of cryptocurrencies through Initial Coin Offerings (ICOs).

Pixabay/Public Domain
Pixabay/Public domain

Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked two of biggest ICOs ranked by amount raised from their list.

The first one is Bancor. Next in line in the list of 7 biggest ICOs ranked by amount raised is Bancor, developed by Bancor Foundation. Bancor Foundation raised $153 million worth of Ether during its ICO in June 2017. Bancor is a cryptocurrency that can incorporate multiple coins (like Bitcoin, Ethereum, Ripple). Instead of eexchanges, Bancor tokens are developed to be matched among themselves using smart contracts that are coded in the tokens. The ICO received a lot of hype after it was reported that well-known venture capitalist Tim Draper invested in the project, which sparked so much interest from investors that the ethereum network became congested. The second one on our list now is The DAO. The DAO (Decentralized Autonomous Organization) conducted its ICO in May 2016 and it attracted 14% of all ether coins issued at the time. The DAO aimed to offer a decentralized business model on the Ethereum blockchain and wanted to create a sort of an investment fund, where each contributor would be able to vote on where to invest. However, a month after the ICO, the DAO was hacked and $50 million worth of Ether was stolen. To recover the money, the Ethereum community wanted to change the blockchain, which required a majority of computers to agree to a software upgrade.

For any further useful information, read Insider Monkey’s article about 7 biggest ICOs ranked by amount raised.

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