$200 million in 1-hour, New High Record for ICOs

Filecoin has attracted many attention even before their ICO as with their innovative promises to provide users with a comprehensive Blockchain-based data storage network.

Today, the platform accumulated over $200 million USD within 60 minutes of its initial coin offering (ICO) phase. This includes the $52 million USD raised during its pre-sale — the sale of coins before ICO to highly speculative investors. The ICO is co-managed by CoinList, a joint project between start-up investment platform AngelList and Protocol Labs, the developer of Filecoin.

However, just an hour after the ICO commenced at 1p.m. PT, the sale was put on halt as with enormous traffic flocking into the website — many faced problems accessing the site. The unbearable amount of web-traffic can be much blamed at the sales model of Filecoin’s ICO in which the price of coins increases as with the increased number of investors. Many flocked into the website in a bid to purchase the coins before the price went up.

Putting all the problems aside, Filecoin has set a new high record in the world of cryptocurrency. Just over 30 minutes into the ICO, the Filecoin team announced that they have accumulated a total of $252 million USD in investments. This amount of investment is the largest to date in the world of cryptocurrency ICOs — overtaking the $232 million record hit by Tezos project in mid-July.

It is believed that until now, over $1.7 billion USD have been invested into all cryptocurrency ICOs. Filecoin has just pushed the total figure into the $2 billion USD mark with its record-high ICO!

It just go to show that investors are highly bullish about cryptocurrencies as with their promising ideas, solutions, and technologies. It is exciting to witness new history being made in the cryptocurrency world. Many analysts say that this is still pretty much the beginning phases of cryptocurrency. Just imagine how much more investments and innovations will be coming out of the cryptocurrency industry! This is definitely something to look out for!

The market has been performing exceeding well this past couple of weeks and if you’ve always been on the sidelines wondering how to get in on the action but don’t know where to start, just drop me a message. You don’t have to be a trader to make money. There are other ways to earn a little coin here and there, which over time, can accumulate to quite a tidy sum if you start now.

Originally published at www.eugenetay.com.