At the time of November 21, 2018, the BitMEX cryptocurrency exchange is expected to launch another twelve ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details coin projects that collected more than $ 50 million of initial investment, as was reported in a report from BitMEX on November 21.
After the publication of the report-list of plans to start the ICO, the general director of the exchange, Arthur Hayes, said that some well-known projects, such as Telegram, Filecoin and Tuto Overstock, had not yet decided on the exact date to start selling tokens. In total, twelve ICOs are still hanging on BitMEX, the full information on the start of which remains unknown.
"These transactions have large-scale evaluations, and many of the most revered and reliable funds bought a large percentage of these projects (...) It’s not clear when, if ever, these ICOs will reach the secondary market Given the large supply of new tokens, who will buy it (...)? It seems to me that 2019 will be a terrible year of repayment for many companies and funds." – Arthur Hayes, co-founder and CEO of BitMEX.
Analyzing the publication of the BitMEX executive director, many traders agreed that it summarized the problems that the ICO market faced this year. In less than twelve months (according to Diar statistics), 70% of the ICO fell substantially in price.
It is also worth considering that some ICOs from the published BitMEX list violated the law. Paragon and Airfox received huge fines of several million dollars, which investors must now return to US regulators. Such high penalties are associated with violation of the law on the sale of unregistered securities.
"If these products enter the cryptocurrency market, there will be no tricks to avoid giant losses (...)" – Arthur Hayes.
Editor: Yuliya Soroka