The number of cryptocurrencies jumped from a mere 66 in 2013 to a whopping 10,397 in February 2022. Most of the crypto projects did ICO till 2017, but ICOs were later replaced by other funding methods like IEO, IDO, and more. So, what was the reason behind the drop in the number of ICOs after 2017? After all, it was the year when ICOs truly exploded, with the number of cryptocurrencies breaching four-digit for the first time. Well, many of these projects turned out to be a sort of fortnight wonders, as they failed to materialize into anything meaningful. With this, ICOs started gaining bad reps, and this form of funding stopped gaining traction.
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