As the Ethereum has gone below $200 and now may reach below $100 then according to Autonomous Research, Ethereum (ETH) blockchain-based ICOs have been recognized as the spark for the ETH price surge in 2017. However, they are currently the purported reason for the currency’s price slide, as some projects cash out to cover expenses amid concerns over a bearish market.
Funding for Initial Coin Offerings (ICOs) has seen its hardest slump in 16 months, Bloomberg reported September 10. Analysis from Autonomous Research shows that in August, startups raised $326 million, which is the smallest amount since May 2017.
The Australian Securities and Investments Commission (ASIC) revealed plans to increase scrutiny of cryptocurrency exchanges and ICOs in its “Corporate Plan” published last week. Specifically, the agency plans to ensure any “threats of harm” from the nascent industry are mitigated as part of its regulatory remit. The Bitcoin ETF and Dominance is also one of the major issues.