The new crowdfunding? Ethereum ICOs raise close to $1 billion in June alone

In just 19 days, Ethereum initial coin offerings have raised close to $1 billion dollars, according to estimates, with speculations this could be the biggest decentralised venture funding event in history.

Tech news site Trust Nodes has crunched the numbers and estimates $US642 million has been raised by prominent initial coin offerings (ICOs) in the first three weeks of June, with another estimated $US60 million raised from smaller events.

An ICO involves investors buying a cryptocurrency, which has a value in relation to another currency like Bitcoin or Ethereum.

Bancor raised $US150 million on June 13, making it the biggest crowdfunding in history, at least for a few days.

Trust Nodes reports Status followed on June 21, raising $99 million, while on June 24 OpenANX raised $US16 million in and ICO and while TenX quickly reached their cap of $US67 million, with their token sale lasting about ten minutes.

Things heated up when EOS booted Bancor from the top position, raising 650,000 ETH, worth roughly $US200 million, in a sale that saw their price jump from $1 to $6.90 on the same day their token sale ended.

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Source: The new crowdfunding? Ethereum ICOs raise close to $1 billion in June alone – SmartCompany