Tezos Blockchain project smashes all previous ICO records by raising $232M

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Smashing all previous initial coin offering (ICO) records, the Tezos Blockchain project has managed to raise a whopping $232M.

The previous record ICO – last month’s $150 million raised by Bancor’s ICO – now stands second. According to a report by Smith & Crown a total of $522 Million has been raised in the first five months of 2017 from just 65 ICOs. Some of the other huge ICOs include BasicAttentionToken (BAT) that raised $35 Million in just 24 seconds; Mysterium Network that received $14.4 Million from investors in less than 45 minutes; and Status, a messaging platform managed to raise $108 Million.

Tezos raised a staggering $232 Million worth of Bitcoin and Ether coins which makes it by far the largest ICO in history. Tezos is effectively a decentralized blockchain that governs itself by establishing a true digital commonwealth and facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.

With recent ICOs all outperforming each other, ICOs have become the biggest trend in the crypto-world off late. The market cap for ICOs has increased from $12 billion to $100 billion over the last year, a massive spike of over 870{7b1a8a58d3ffe2d8e535e80e794d8bc0bf06a3ecc0c2050b83ca37784c6fddca}. To put this in perspective, it is six times the growth observed by the stock market cap during the years of the dot com bubble in the late 90s. However, this is not a recent fad as investors in cryptocurrencies reportedly made massive returns in 2016, several over 2000{7b1a8a58d3ffe2d8e535e80e794d8bc0bf06a3ecc0c2050b83ca37784c6fddca}.

 

Riding on this wave of success, there are plenty of exciting upcoming ICOs on the horizon. For the more adventurous minded, an Estonian online adult entertainment platform called RasputinOnline has announced it will hold its ICO on the 20th of July. The success of ICOs has even seen the emergence of cryptofunds that offer a way to invest across multiple cryptocurrencies, such as eToro’s cryptofund, and startups that invest in cryptocurrencies directly, such as Pantera Capital.

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