BY DAYO ADESULU
Seven cryptocurrency companies are set to raise a whopping sum of $305,491,250 through an Initial Coin Offering (ICO) in five days, beginning from April 1 to 12, 2021.
This is just as 34 companies have on 31st March completed their Initial Coin Offering ICO, raising a total of $61,521,735 million between January 26 to March 31 to further boost the crypto market.
Out of the 34 ICOs, Casper, SifChain and ETHA lend Initial Coin Offer topped the lead of their targetted goals of twelve million and ten million respectively.
Just like the Initial Public Offering operated by the stock market which allows private company go public by sale of their stocks to the general public, the initial coin offering (ICO) does the same.
An initial coin offering (ICO) is the cryptocurrency industry’s equivalent to an initial public offering (IPO). A company looking to raise money to create a new coin, app, or service launches an ICO as a way to raise funds.
It is expected that the initial offer for such ICO is always cheaper than when it gets to the exchangers.
In this regard, Casper ICO which sold for $ 0.015 tops the lead with the fundraising goal of $12,000,000 between March 23, 2021, and March 24 2021.
Casper is a proof of stake blockchain network optimized for enterprise and developer adoption. The Casper Network is the first live blockchain built off the Correct-by-Construction (CBC) Casper specification, allowing the network to create sustainable new markets and unlock value by tokenizing nearly any asset without compromising performance or security.
Closely allied to Casper’s ICO goal of 12 million dollars are SifChain and ETHA lend ICOs of $10,000,000 goals respectively. While SjfChain ICO cost $0.3, ETHA lend went for $1.
Sifchain is the brainchild of Sif, the Norse goddess of earth, agriculture, fertility, family, and marriage. She brings abundance, pleasure, and wisdom wherever she goes. She has blessed a hearty band of 21st-century humans with the task of instantiating Sifchain in our universe.
The ETHA token is an ERC-20 token, that will give its holder on-chain voting rights for protocol parameters, amendments, upgrades, as well as granting them at a later stage shares of the protocol fees.
Meanwhile, statistics of the upcoming companies targeting a $305,491,250 fundraising goal between April 1 to 12. could be found below.
Data source: Coinmarketcap