Despite this year’s selloff of virtual currencies ICOs are growing at a record pace. This can mean 2 things for the market. It could be further evidence that the correction we are experiencing is temporary and the belief in the future of currency is still strong. It could also show the lack of understanding the public has towards the market and the ICO risk factor.
Much of the enthusiasm cantered around two big offerings: EOS, a platform for open-source projects, and Telegram, a messaging service.
Like any tech boom the majority of these are likely to fail. This is a high-risk sector, it is an early stage and lots of it by definition is going to die. Starting an ICO has become a relatively straight forward recently which has caused a massive influx in the total count and authenticity of what is appearing. Bearing this in mind caution is always advise.