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Crypto bear market threatens to last as potential token supply weighs

Reuters  |  NEW YORK 

By Gertrude Chavez-DreyfussNEW YORK (Reuters) - Cryptocurrencies may be facing a prolonged bear market.Companies that issued tokens, or digital currencies, over the last two years through initial coin offerings (ICOs) may have to sell more of these assets to finance their operations. There's just one problem: There are very few takers. After the blockbuster success of ICOs in 2017, with funds raised at more than $6 billion, cryptocurrencies nosedived, wiping out about 85 percent of their total market value since hitting a peak of more than $800 billion in early 2018. Bitcoin, the original ...

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First Published: Fri, February 08 2019. 17:35 IST