Europe left U.S. and Asia behind in Cryptocurrency Token Sale. The European market is becoming a hub for the cryptocurrency market because of an impressive amount of EUR funding being administered into cryptocurrency projects.
So far this year, the number of token sales generated in Europe are close to surpassing that of Asia and the U.S. put together! Quite an accomplishment considering the size and population of the continent of Asia.
Fabric Ventures, a venture capital firm that invests in blockchain and decentralized data networks has published a report regarding the possible reasons for the substantial growth in European ICO fundings in the year 2018.
The report has disclosed shocking results for positive regulatory policies, the distinctive economies of the European Union, and the rapid growing developmental work.
Just in 2018, Europe raised approximately $4.1 billion ICO fundings which is closely double of that $2.3 billion raised in Asia so far, and impressively better than the $2.6 billion raised in the U.S.
Friendly Regulation is helping European Countries
Europe left U.S. and Asia behind in Cryptocurrency Token Sale. One of the most important supporting factors to increase global ICO funding is an increasing number of “do-no-harm” regulation, specifically introduced by European Countries.
The report stated that in Asia ICO fundings are at a disadvantage. This is because regulatory authorities in Hong kong and Singapore (Asia’s two major Cryptocurrency hub) are describing cryptocurrencies as security products. This is as opposed to digital money, which are subjected to higher regulatory critical examination.
Easy and non- confining rules in the European nations compared to other countries around the world is what is ultimately helping the European market to become a cryptocurrency hub.
ICO Funding in European Nations
Europe left U.S. and Asia behind in Cryptocurrency Token Sale. The report gives specific details about how Gibraltar and Malta, are attracting an incredible amount of ICO funding. (approximately $300 million to date).
Although they are widely recognised as ‘crypto-nations’, they are also following many big nations in terms of ICO fundraising. This has drawn the majority of the ICO funding weight of European union.
To date this year, the U.K. has been able to raise $490 million. This is comparatively less to what Switzerland has secured. This is $556 million in funding for ICOs. Lithuania has done impressively this year by securing its position as a cryptocurrency hub. It has a cool $271 million raised so far.
Opportunities for European Countries
The report has good news for Europe through its statement. It says the increasing ICO fundraising in European countries will lead to an increase in the number of opportunities. Also, considering most of the cryptocurrency projects will be located in major European cities.
“While an increasing number of countries strive to attract crypto projects by creating a regulatory ‘sandbox’, the majority of founding teams and developer talent remain Europe-based. London, Zug, Berlin, and Tallinn are just a handful of cities leading Europe with robust blockchain talent. It comes as no surprise that these cities have historically been hubs for attracting top fintech startups.”
-the report revealed.
2018 has indeed been a great year for ICO fundraising, without being affected by the cryptocurrency bear market. With a total of 889 ICOs raising more than three times as what they raised in 2017
-According to CoinSchedule ( an ICO fundraising tracker)