Top 5 Largest ICOs

The most famous ICOs

The top 10 ICOs have been very successful at drawing attention to their projects from the start; however, many of this list managed to significantly slow down since their ICO. Here is what you need to know about them.

1. Petro (PTR) – $ 5 billion

While the Petro project has reportedly earned more than any other ICO on this list, it can also be called the most controversial. Petro was created in February 2018 by the Venezuelan government as a way to circumvent economic sanctions. 

Who really invested in this project? It is reported that Russian officials have helped Venezuela launch Petro, which is already coloring the cryptocurrency with political colors. Plus, the US government banned its citizens from trading it, and even two of Venezuela’s own legislatures declared Petro illegal.

2. EOS – $ 2.5 billion

EOS is a project created to built the best blockchain platform for decentralized applications (dapps). Its purpose is to ensure the security of BTC and the computing power of ETH. It also promises to process 1 million transactions per second on machines with 100 GPU cores. 

One of the biggest disagreements regarding EOS is its ICO structure, which uses a continuous distribution model over a one-year period. During the ICO, EOS was simultaneously available for purchase on crypto exchanges, which is an unusual practice for such a project. Some believe that in this way the company tried to stimulate speculation and set investors against each other. 

The recent launch of the platform was also wit “surprises”. So many vulnerabilities and critical bugs were found in the EOS system that developers had to spend tens of thousands of dollars on rewards to “white hackers”.

3. Telegram (GRAM) – $ 1.7 billion.

Telegram quickly gained momentum. In an era when social media giants like Facebook, Instagram, and Twitter seemed invincible, Telegram was able to become the number one social network in more than 100 countries, according to AppAnnie. What is interesting about Telegram’s ICO is that all of its funds were raised in two private sales, which were open only to accredited investors in the United States.

How much money do you need to invest in GRAM? It is estimated that the required amount is $ 20 million for “outsiders” and $ 500,000 for “friends.” As a result, the distribution of the token itself will be highly centralized, and several wealthy investors can gain control over the entire system, which in itself contradicts the basic principle of cryptocurrencies – decentralization.

4. Dragon (DRG) – $ 320 million

Dragon is different from almost every cryptocurrency on this list. The fact is that it will be supported by a real physical asset: a floating casino in Macau. DRG owners will be able to use tokens in the new casino after its creation.

This project seems to change the fast-growing gambling economy of Macau, which is estimated to be 20 times the size of the gambling sector in Las Vegas. In essence, DRG tokens will be used to circumvent the restrictions on capital flows to and from China, which makes gambling more convenient for mainland residents.

20% of the ICO fundraising will go to the construction of Dragon Pearl Hotel Casino, worth $ 300 million. Interestingly, the remaining 80% of the funds needed for the construction of the facility are paid by the Norwegian government. 

5. Huobi (HT) – $ 300 million.

The platform has long been among the top 5 crypto exchanges in 24-hour trading volume. It used to be different from most cryptocurrency exchanges because it did not have its own token.

Due to the popularity of other native token exchanges, the company launched its own Huobi coin (HT). Instead of conducting a large-scale and highly professional ICO, Huobi simply allowed its existing active user base to buy HT packages using other cryptocurrencies. The main advantage of HT is its use as a tool on the Huobi trading platform. Investors trading using HT as part of a trading pair receive a reduction in transaction fees.

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