PwC, a world renowned professional services firm have announced some new figures that suggest in 2018, sales figures for cryptocurrencies have doubled since figures recorded in 2017. Whilst this is hardly a surprise, it does provide evidence that cryptocurrencies are still growing, and of course provides a great deal of promise for those who wish to see cryptocurrency adoption enter our societies.Of course, this increase in sales will have been influenced by the cryptocurrency boom at the end of 2017 and the start of 2018, that’s a given.Crypto Valley of Switzerland have also played a part within the research that has concluded with these findings, according to The Paypers:
“Switzerland-based Crypto Valley Association also took part in the research, underlying the fact that the amount raised from digital currencies sales has almost doubled compared with 2017. Technology startups in the blockchain space around the world have raised funds by selling cryptocurrencies, or tokens directly to investors in initial coin offerings (ICOs), bypassing banks or venture capital companies as intermediaries.”
Here are some of the findings of the PwC report:Between the months of January 2018 and May 2018, cryptocurrency sales hit $13.7 Billion. To date, there have been 3,470 Initial Coin Offerings, of which, only 30% have closed successfully. In the United States, in 2018 alone, 56 token sales have been registered, raising a total fund of $1.1 Billion. In the United Kingdom, in 2018 alone, 48 token sales have been registered raising a total $507 Million. You can see more from The Paypers for yourself here- https://www.thepaypers.com/cryptocurrencies-bitcoin-virtual-currencies/digital-currency-sales-to-double-in-2018-compared-with-2017-pwc-report/773793-39?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thepaypers%2FcfKW+%28The+Paypers+Headlines%29What does all of this mean?Naturally, an increase in sales means an increase in mainstream interest. Of course, the high prices of cryptocurrencies at the start of the year did hit mainstream headlines and thus, as a result, many more people were inspired to buy in.As mainstream interest grows, other areas within society will start to develop an interest in cryptocurrencies, for example, commerce and shops etc may be more inclined to start accepting cryptocurrencies, if they learn that their customers are already buying crypto.
Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.