2017 was a great year of ICOs, available stats suggest that the whole cryptocurrency industry has raised as much as $5B+ across 400+ successful projects. 2018 was a freezing crypto winter where the market lost much of its 2017 gains. ICOs are probably not coming back especially because many people believe that the crypto winter of 2018 was triggered by the indiscriminate actions of scam ICOs and a concerted effort by governments and regulators to shut them down.
2019 is shaping up to be the year of Initial Exchange Offerings (IEOs) as cryptocurrency exchanges take up the intermediate role of checking, testing, vetting, approving, and as well promoting the blockchain projects that want to raise funds from the market. Many cryptocurrency exchanges now have IEO platforms but the most popular IEO platforms are Binance Launchpad, Biitrex, p2p2b2b, Coinsbit, Huobi Global, OKex, LAToken, and KuCoin. As of May 2019, IEOs have raised about $1.4B globally.
Matic Networks – Binance Launchpad
Matic Network, which launched its IEO from Binance Launchpad is one of the best performing IEOs in the general cryptocurrency market this year. The chart below shows how Matic token has fared since launching its IEO in April. The coin went from trading at $0.004521 on April 28 to a high of $0.0411 on May 21, marking an incredible 800% rally in less than a month. The coin has since given back some of those gains as it trades sideways in the last couple of weeks; yet, it still sports 433% YTD gains with a circulating market cap of about $51M.
The key metrics are also looking good for Matic. Its 24-hour trading volume has grown by almost 600% from around $8.1M worth of trade to more than $50M worth of trade in less than two months. Market sentiment analysis suggests that the market is bullish on Matic in the short-term because its daily sentiment is positive at 61.67% while its long-term sentiment is neutral at 53.79%.
Matic’s impressive performance is not strange; in fact, investors would have been worried if the price of the token didn’t take off the way it did. For one, Matic Network is the only startup from Binance Launchpad to have gotten funded by Coinbase Ventures. The Coinbase investment is a vote of confidence in Matic and its ability to successfully scale Ethereum as the industry prepares for the mass-market adoption of dApps.
Matic is simply a Layer 2 scaling solution for facilitating off-chain computation using the Plasma framework and a decentralized network of Proof-of-Stake validators. In simpler terms, Matic Network is designed to solve some of the scalability challenges that have kept blockchain revolution from living to its true potential. For instance, Matic can ensure faster and cheaper transactions on Ethereum considering that its test net recorded about 10,000 tx/s on a single sidechain.
TOP Network – Huobi Global
TOP Network launched its IEO from Huobi Global as a decentralized open communication platform optimized to provide cloud communication services over a Blockchain. TOP provides users with cheaper real-world business communication tools such as video, calling, messaging, IoT, data sharing, and VPN. Its technology stack includes a three-layer network, two-layer sharding, two-layer lattice DAG and a delegated Proof of Stake consensus that enables it to process a hundred thousand transactions per second.
TOP Network would have been the best performing IEO out of Huobi Global but the project seems to have lost its initial momentum. In the chart above, TOP started out with an incredible 250% gain immediately after it completed its IEO. It appears that the decline in the price of TOP tokens is a protest from the market in response to the technical challenges that marred the IEO. It would be interesting to see the catalyst that will reignite the bullish momentum for TOP as the token tries to break out from the sideways trend of the last several weeks.
Wolfs Group – P2PB2B exchange
Wolfs Group OÜ, launching its IEO on P2PB2B and Coinsbit exchanges looking promising to be the best performing in the year 2020. Wolfs Group is an established company that has more than 20 years of experience in Real estate, cutting edge technology, FinTech, Equity, Portfolio Managemen, a well-established group of companies listed on the stock market and licensed by local regulators.
Unlike Zoidpay, Wolfs Group has officially partnered with the VISA for rolling out debit cards and other multi-currency cards in the near future. Wolfs Group has long been active in the market, using a mixed investment model — the company specializes in both private and venture capital. Their investment portfolio includes many companies that have long gone out of the phase of MVP creating and startup status, i.e. fully working in the market. The three main areas of Wolfs Group’s business are real estate (this one is run by Wolfs Development), new technologies (Wolfs FPE) and Fintech (Ferpay Ltd).
Wolf Group will be releasing an ERC-20 token i.e WLF tokens which will be a standard act as a means of investing in the company — its products and services.