Home News Russia has taken leading position in the world’s ICO market

Russia has taken leading position in the world’s ICO market

According to the results of “The Token Spring of Central & Eastern Europe” international research conducted by EWDN and ICO Bench, Russia is now number one country in the world’s ICO market. The research dealt with real cases of blockchain and ICO projects in Eastern Europe.

Despite modest scale of venture capital activity (less than 1 percent share in the world’s market), the Eastern Europe in general and Russia in particular have delivered impressive results in the ICO market. No less than 237 companies originating from this region were responsible for 17 percent of ICOs and pre-ICOs launched in 2017 all over the world, according to the data collected by ICO Bench and EWDN. Roughly estimated, these projects have accumulated 22 percent (over $ 1 200 000 000) of the total amount raised in the market worldwide.

130 of these companies came from Russia, 22 from Estonia, 22 from Slovenia and 13 from Ukraine. Thus, Russia turns out to be undisputed regional leader in the field, while contesting the world’s leaders as well. According to statistics provided by Almaz Capital fund, Eastern Europe and Russia host the world’s second largest blockchain community after USA, whereas ranking third in the list of top bitcoin-mining regions with 8.2 percent of crypto mining centers and considerable share of the world’s investments into ICOs being concentrated here.

“Though the exceptional abilities of Russian developers has not yet been enough to attract keen attention of venture investors, they were enough to ensure Russia’s leading position in the world’s ICO market. Recent years have seen the venture capital becoming problematically accessible and pricey in Russia. Many startup founders consider ICOs as a more convenient means of fundraising given the circumstances,” – Adrien Henni, Editor-in-Chief at EWDN.COM pointed out.

At the same time, as noted by experts, high scam percentage among a number of ICO projects together with the general uncertainty of the ICO market as a whole have provoked the responsive action on the part of the authorities up to the point of explicit prohibitions issued by certain US and UK banks. At the same time, regulation in fact not only limits, but also protects honest investors. This clearly outlined trend shows that the cryptocurrency market is becoming more mature day by day.