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The crypto market has been running on steroids, and like an adrenaline junkie, it risks seriously burning out or suffering a catastrophic heart attack.
In fact, the industry is evolving at such a breakneck speed that Morgan Stanley recently drew parallels between crypto and the Nasdaq prior to the Dotcom crash, saying the only difference is that the crypto market is evolving 15x faster.
Fact - Early-stage - Industries - Consolidation - Phase
It's a well-established fact that early-stage industries tend to be heavily fragmented before embarking on a consolidation phase as they mature. But things have been a lot more dramatic in cryptoland.
From just a few dozen cryptos a few years ago, the crypto industry now has a deluge of digital coins with the tally now approaching 2,000.
Cryptocurrency - Industry - Scams - Consolidation - Exercise
The cryptocurrency industry is so heavily fragmented and littered with scams that a huge consolidation exercise is the only way to clean it up.
The DeadCoins websites lists nearly 800 cryptocurrencies that have been deceased, and the list keeps growing.
Growth - ICOs - Idea - Stake
Explosive growth by ICOs gives you an idea of what is at stake here.
Through ICOs, startups design tokens which are sold in secondary markets via a crowdfunded model. All token sales are powered by blockchain technology. This novel fundraising mechanism has proven very popular, thanks to its key attractions including zero dilution for the owners, strong network effect and high returns. Indeed, ICOs are frequently oversubscribed and have already overtaken VCs as the preferred method for startups to raise equity.
Startups - ICOs - Hundreds - Coins - Bazaar
Startups raised more than $5 billion through ICOs in 2017 by selling hundreds of coins in the digital bazaar, and industry experts see this ending in pain and tears...
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