The Initial Coin Offerings market is booming in the first quarter of 2018 despite the decline of cryptocurrency prices.
According to data from Coinschedule, companies had raised more than 5 billion in 165 ICOs since the beginning of this year. In 2016, about 95 million were raised through 43 ICOs projects. In 2017, the total number of ICOs reached 164, raising more than $3.8 billion. Encrypted messaging service Telegram's ICO is the biggest initial coin offering in 2018, raising $1.7 billion, while the communications sector raised the most funds through ICOs in 2018. Chineseinvestors.com, Inc. (OTC: CIIX), Acacia Research Corp (NASDAQ: ACTG), Eastman Kodak Co (NYSE: KODK), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), NXT-ID, Inc. (NASDAQ: NXTD)
Spending on blockchain technology solutions is also expected to grow. According to a reported published by International Data Corporation, worldwide spending on blockchain solutions is forecast to grow with a five-year compound annual growth rate (CAGR) of 81.2% to $9.7 billion in 2021. Bill Fearnley, research director of Worldwide Blockchain Strategies, said: "Interest and investment in blockchain and distributed ledger technology (DLT) is accelerating as enterprises aggregate data into secure, sequential, and immutable blockchain ledgers, transforming their businesses and operations."
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