Let’s start with the bad news.
The total number of ICOs in October has fallen sharply, which has led to a fall in total dollars in the market. While October’s slump isn’t as bad as that of June, there is still some doubt that figures will rise anytime soon. As of October 22nd, there was a total figure of $510,967,218 from just 31 ICOs. EOS continues to lead that field by a considerable distance.
Questions of the declining value of leading currencies, the development of new blockchains and increases in atomic swaps should make things interesting as we head into November. One 14 day forecast heading into November suggest declines on a large number of leading currencies and ICOs. This includes the big names of Bitcoin, Tether, Ethereum and Ripple, although Bitcoin and Tether are expected to take a much smaller hit. Yet, Icon, Aeron, Tron and more are expected to weather the storm a little longer.
What about the good news? There are 6 ICOs set to launch in the coming week, and many more for the start of November. Spiking, a whale mirror-trading platform, is yet another to come out of Singapore. Singapore has had a relatively strong year in ICOs compared to other major markets. It is also encouraging to see such a broad range of countries of origin in these 6 ICOs — 2 from the UK, 1 from the British Virgin Islands, 1 from Switzerland and 1 from Austria. There is still plenty of movement in the week ahead, just not necessarily in the all the right direction.
PS. Here’s the future of cryptocurrency coming right out of Singapore!