Two years after 2017 cryptohaip, even despite the collapse of quotes, cryptocurrencies turned out to be more reliable assets than tokens.
Causes
Cryptocurrencies last longer - bitcoin appeared in 2009, and most tokens appeared during the 2017-2018 cryptohaip.
Cryptocurrencies have formed a token market. This means that at first blockchain platforms with their own cryptocurrencies like Waves and Ethereum appeared, and then, on their basis, ICO projects issued their own cryptocurrencies. The Ethereum blockchain platform appeared in 2015, Waves - in 2016, before the 2017-2018 cryptohaip. For all time, companies have organized more than 2700 ICOs on the Ethereum platform, and more than 100 on the Waves platform.
Some ICO projects that issued tokens turned out to be fraudulent. In May 2018, The Wall Street Journal published the results of a study on one and a half thousand initial coin offerings. According to WSJ, about 20% of ICOs conducted since the beginning of 2017 are fraudulent. After 2 months, the research company Statis Group tricked 80% of all ICOs. Tokens discredited themselves and this was reflected in the entire market, as traders lost confidence in them.
ICO startups that really planned to fulfill their obligations to their investors faced another problem: the attracted capital was not enough for the successful implementation of the product. For example, this was encountered by a platform for mobile games based on the MobileGo blockchain, the founders of which raised $ 53 million and were able to fulfill only 10% of the declared in a year, or the SONM foggy platform, which was technically ready in the announced timeframe, but still not was able to attract the right number of participants.
The trading numbers speak for themselves: cryptocurrencies are really much more in demand than tokens. According to Coinmarketcap on July 15, the daily trading volume of the first three cryptocurrencies is more than $ 36 billion, tokens are only $ 26 billion, and this figure is almost completely provided by the trading volume of the Tether dollar stablecoin.
