ICO are dead, it is a fact.
However, even in this dead state, the ICO market manages to produce successful projects, from the last of these projects the Ferrum Network project.
It raised $ 1,120,000 on the sale and successfully placed on the exchange. Now it is trading below the price of ICO due to the general downtrend in the market.
However, even in this dead state, the ICO market manages to produce successful projects, from the last of these projects the Ferrum Network project.
It raised $ 1,120,000 on the sale and successfully placed on the exchange. Now it is trading below the price of ICO due to the general downtrend in the market.
You can't blame everything on the market. If a particular project is good, then it will give you good returns irrespective of the market sentiment. I checked the charts for Ferrum Network. It has lost more than 50% of its value in just around one and half months. Actually this is very discouraging. When a project suffers such a heavy fall in such a short duration, you know that there is something wrong with that. On top of that, the trade volumes are also declining and this token is listed in only one exchange (BitMax).
There are multiple red flags with the Ferrum Network project. Why the team is refraining from listing this token in multiple exchanges? Right now it is being listed in only one exchange, and from the order books it looks like someone is dumping the tokens there. This follows a very similar pattern. Once the ICO is over, the team members dump their allocation and exit the project. The development becomes stagnant and gradually the token loses its value and gets delisted from the exchanges.
