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Only One in 10 Tokens Is In Use Following Initial Coin Offerings

  • Token Report analyzed application use from 226 coin sales
  • Usage rates remain low as financing rises to record $3 billion
Bloomberg business news

Five Reasons 'Bitcoin Jesus' Loves the Digital Currency

Need further evidence that the digital-currency market is in a frenzy? How about the fact that only about one out of 10 tokens issued in initial coin offerings is in use following the sales.

Of the 226 ICOs analyzed, only 20 -- such as Storj, Augur and TenX -- are used in the running of their networks, according to Token Report, which keeps a database of token sales information. The rest can only be traded, and are purely speculative instruments, Galen Moore, chief executive officer of Token Report, said in an interview.