Top 10s in Crypto Market

Top 10 Biggest ICOs That Raised The Largest Fund

Initial coin offerings became the new avenue for raising capital for startup companies. Today, we will discuss about the top ICOs raising the largest fund

Top 10 ICOs to Raise Highest Fund

In the year 2017 alone blockchain startups raised over $5 billion through ICOs. However, in the first half of 2018 alone funds raised through ICOs already doubled that of the previous year. Here are the top 10 biggest ICOs that raised the largest funds so far.

EOS

Blockchain startup Block.one launched an ICO for its EOS platform in June 2017. Token sales concluded in June 2018, one year later. The startup managed to raise over $4.1 billion to finance the development of its next-level smart contracts platform.

The EOS platform has a huge popularity in the People’s Republic of China. This enables the startup to achieve a lot of investment from Chinese Business Elites. Moreover, EOS runs on its own blockchain network and is valued for $8.00 USD.

History of ICO blockchain

Telegram

Russian born end-to-end encrypted messaging service Telegram launched managed to raise $1.7 billion during a private sale. The company spiced up it’s fundraising with SAFT agreements which enabled it to neglect public sale. Thereafter, Telegram plans to use the funds to develop an entirely new blockchain to solve the problem of scalability.

The Blockchain, Telegram Open Network (TON) will be supported by a proprietary digital token called GRAM. The company revealed that its blockchain will process millions of transactions per second through the use of infinite sharding and hypercube routing technologies.

Dragon

A Casino in the gambling city of Macau conducted and ICO targeting to raise $500 million from toke sales. However, they managed to raise an impressive $320 million for their gambling venture. Dragon Corp, the mother company behind the ICO developed Dragon Coin, DRG as the platform digital currency targeted at the rich Macau gamblers. surprisingly, the value of the DRG token is tight top the success of a large gambling venture.

ICO cryptocurrency

Huobi

Unlike the other names on this list, Huobi is a cryptocurrency exchange that decided to boost its capital base through an ICO. The Chinese exchange successfully raised $300 million through it’s highly publicized token sale in early 2018. Huobi sold its HT token to its existing users promising them a discount on trading fees on the exchange.

Hdac

Hdac, a South Korean technology form managed to raise $258 million at the end of 2017 to fund the development of its new platform. The is developing the first IoT contract and payment platform based on the blockchain. Hdac which is backed by Hyundai BS&C aims to enable IoT devices to communicate, handle identity authentication, data storage and payments.

State of ICO

Filecoin

Filecoin raised more than $257 million during its September 2017 token offering. The company managed to raise another $52 million before the ICO from leading venture capital firms like Union Square Venture, Andreessen Horowitz, and the Digital currency group. Filecoin aims to develop a decentralized cloud storage platform using the InterPlanetary File System (IPFS) to securely record and store data on a P2P basis.

Tezos

Tezos blockchain project managed to raise over $232 million during its July 2017 ICO. The startup is developing a self-amending distributed ledger to allow the creation of smart contracts. The project will allow token holders to approve and fund new protocol updates, unlike the other blockchain projects. The platform token Tez (XTZ) will become tradable on cryptocurrency exchanges in the near future.

ICOs to launch in countries

Sirin Labs

In December 2017, the Swiss blockchain startup Sirin Labs managed to raise $157.8 million during its ICO. The company plans to use the funds to develop a secure open source smartphone and all-in-one PC called FINNEYTM. The initiative aims at bridging the gap between the mass market and the blockchain economy.

Bancor

Bancor is a blockchain-based prediction market project which conducted its ICO on 12 June 2017. The startup raised over $153 million equivalent of Ether for the development of its platform. The startup native token the BNT spiked to $4.49 after it started trading on exchanges before dropping to $1.49. However, the BNT token is trading at around $2.25.

ICOs to Raise Highest Fund

The DAO

The controversial DAO initiated a project aiming to create decentralized investor-driven venture capital fund that would invest in promising new projects built on the there blockchain. The May 2016 ICO for the DAO (Decentralized Autonomous Organization) raised $152 million.

Issues started on the Platform a month after the ICO after a loophole on its smart contract allowed a hacker to walk away with a third of the raised funds. The aftermath of the highest cause a dissolution of the DAO and a hard fork in the Ethereum Blockchain. Investors on the platform were able to restore their Ether holdings back to the pre-hack condition.

To date, these still hold as the most successful ICOs of all time. However with better projects in the tunnel it is obvious this list is bound to change a lot.

You can read more here:

  1. Why Are ICO Trends Braking With Unbiased Market?
  2. What is an ICO?

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Image Courtesy- Satoshi Nakamoto Blog, the Fintech times, Steemit, visual capitalist, silicon valley, consumers research.

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Jacob Okonya

Since 2013, Jacob has been engaged in blockchain technologies, Bitcoin, and fintech. He worked mostly as a blockchain market researcher, fintech journalist, and online forum moderator.Jacob has contributed to blockchain, Bitcoin, and fintech news articles, for coinidol.com, bitcoinira.com, and other various channels. Jacob’s vision is to disseminate information, contribute to business marketing, and develop the cryptocurrency industry. At STREAMITY exchange, Jacob is involved in creating articles and educational content for different project components, explaining how users can utilize the various resources. 39RTAmNRLQh3tLn5TJy6yY578vDVQuFVZw

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