Close
  • Loading ticker data...
Coin Prices →
Altcoin News

EOS rakes in $4 billion USD from its year-long crowdsale

One year after the inception of its ICO, EOS has officially succeeded in raking in over $4 billion USD – firmly placing it as the largest token sale in history.

Written by Bryan Smith Published on

Nearly one year after its crowdsale launched, EOS has now taken the reigns as the largest public ICO in history – having raked in a breathtaking $4 billion USD.

Eclipsing the likes of Telegram, the Petro, and Dragon Coin, the revelation is underpinned by the fact that EOS has sold over 900 million ERC20 tokens over the course of its year-long ICO. The news also comes ahead of the project’s scheduled mainnet launch on June 2nd.

Despite the fact that many thought regulatory pressure in the opening weeks of 2018 might have doomed the ICO, statistics from CoinSchedule reveal that an estimated total of $8,930,376,614 USD has been raised from new coin projects nearly six months into 2018.

For parity, ICOs have been thought to have raised a grand total of $3,880,018,203 USD throughout 2017.

The birth of a new blockchain

EOS’ success comes amidst several teething problems. Despite the project’s imminent mainnet launch, a large amount of investors have yet to show up for a planned token swap.

Ahead of EOS’ mainnet launch in June, users holding ERC20-compatible EOS tokens will be required to register and exchange their holdings for EOS’ proprietary token. The move will be necessary in order to use the EOS blockchain upon launch.

According to EOSAuthority – a London-based block producer candidate – early statistics show that EOS’ planned token migration has not met its desired pace; with only 47% of ERC20 EOS tokens having been exchanged for mainnet EOS tokens at press time.

Additionally, Chinese security firm Qihoo 360 disclosed a recently discovered vulnerability of ‘epic’ proportions which could have derailed EOS’ planned launch – however, EOS’ development team have now swiftly rectified the error.

EOS’ planned launch is now scheduled for June 2nd. At press time, EOS is up 10.53% day-on-day, and is trading at $12.30 USD.

Start trading cryptocurrency with Coindirect.

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

Related Articles

More from our Partners