ICO Scams analysis – The issue with ICOs and Block-Chain projects that raise many millions of dollars after token sales, to fund operations and developments, ICOs need to liquidate a significant portion of the ETH they raised. Most ICOs, like EOS, tend to liquidate their ETH on public Crypto Currency exchanges like Bitfinex, triggering a domino effect and leading other Crypto Currencies to drop by large margins.
Also, read List of Fake Scam ICOs 2018
How to identify Scam ICO?
The entire market declined by 14%-The native Crypto Market within Half an Hour dropped 14 percent overnight. Major Crypto Currency like Bitcoin, Ripple and Bitcoin Cash fell in the range of 2 to 6 percent. The market was helped out a bit this week when Zcash price increased by 50% ahead of news it will be listed on Winklevii owned exchange Gemini. Vanguard Bearish: Joe Davis, the chief economist for $5.1 trillion asset manager Vanguard, wrote in an ETF.com op-edthat although the firm is enthusiastic about Block-Chain Technology in general, it does not believe “Crypto Currencies constitute a viable use case.” These statements have been largely disputed.
- The Coindesk Bitcoin sheds by 13 percent roughly by 1 percent. The price declined and fell back below the $8,000 level on Tuesday after the flagship cryptocurrency failed to receive a Bitcoin Pizza Day The cost gained briefly peaked above $8,600 on Monday and throughout Tuesday morning trading was near $8,400 and continued to decline throughout the day. These fears have not gone unnoticed and the U.S. government has opened up a criminal investigation on crypto market manipulation. Nonetheless, analysts are still bullish with Fundstrat’s Lee calling Bitcoin “underappreciated”
- Ethereum –The price of Ether dropped from $574 to $492, by more than 14 percent. After dropping 5% last week. While ETH rebounded relatively fast from the $492 mark by 6 percent, it is still down around 10 percent from $574.However, analysts are still optimistic about a potential rally in the third quarter of 2018 that may send the price of Bitcoin back to the $14,000 region.
- Nokia– as Bitcoin is a Crypto Currency and world-wide payment system and so one of the Biggest Information Technology -Nokia is partnering with a Crypto Start-ups to build and loT Network. The News got confirmed from the Company’s Blog and thus the Company is planning will reduce the cost of the network deployment and maintenance. Streamer has already raised $31 million in an initial coin offering (ICO) and proved that it is one of the fastest growing start-ups using Block-Chain technology.
- Coin Base is exploding Customer Growth-The exchange now manages over 20 million customer accounts, which is nearly as many as Fidelity Investments and twice as many as Charles Schwab. The report comes as CoinBase acquired decentralized Crypto Currency platform Paradex earlier this week.
- Walmart-U.S. Patent and Trademark Office (USPTO)-As a part of its goal spreading and so the Company has released an application that has filed a patent for a Block-Chain-based marketplace for reselling purchased products, according to a US Patent and Trademark Office USPTO patent filing.
ICO SCAMS conducted and published a New report Surveys
- ICO Scams– News cover that the scams are said to be raised by $1 Billion since Crypto Currency began to boom .1,450 tokens analyzed, 271 raised distinctive red-flags and were found with plagiarized documents in addition to having fake team listings or making claims which displayed all characteristics of deceptive Ponzi-schemes.
- Japanese Coin Check Removes Privacy Coins-The Tokyo based Crypto Currency exchange Coin check whose FSA license was pending at the time has will removed and delisted trading pairs for privacy-centric Crypto Currencies monero (XMR), zcash (ZEC), and dash (DASH) next month. All three Crypto Currencies which is designed are major players in the crypto world and are amongst the top 25 Crypto Currencies with the highest total value.
- The president of Kazakhstan, Nursultan Nazarbayev- He is urging to reach a global consensus regarding crypto regulations. As the market is growing so at the 2018 Global Challenges Summit he claims that the G7 and G20 formats, which have established baseline rules on Crypto Currencies, “do not adequately represent the interests of the global community”.
- South Africa Bank says Crypto is not Currency- SARB-A high ranked official Bank in South Africa claims that Crypto Currency does not meet the requirement as Money. For the users these are Tokens and thus they won’t call it as Currency. The country clearly said that Crypto Currency has been quite confusing and unable to fully explain how the digital currencies work to the general populace.