Based on statistics from ICO Watch List, Germany has a global share of around 2% of all ICOs, about half the number of projects compared to Estonia. Germany is relatively crypto-friendly, but the token sale model has not taken off. German projects have gathered around $6.35 million in funding, a relatively small amount compared to the USA, where ICOs gathered more than $875 million. Compared to the US sector, funding for German projects is the size of one low-range ICO.
Continental Europe is rather lukewarm toward token sales and startups using blockchain. ICOs are concentrated in Malta and Gibraltar, but based on the localities’ regulations, while their teams are spread throughout various countries.
The ICO model has been losing steam in the past months, as September only saw half the funds raised compared to August 2018.
The number of projects also varies. The top 5 countries by numbers of startups are the USA, Singapore, the UK, Russia, and Estonia. By funds raised, the largest ICO markets are the USA, Russia, Singapore, Switzerland and the UK - as shown by data from icobench. The inclusion of the UK and Switzerland shows the need for traditional financial and legal services, hence the projects gravitating toward large-scale financial centers.
The German magazine WirtschaftsWoche revealed that only eight ICOs with offices in Germany have completed an ICO. Until now, Lisk (LSK) is the most prominent project, followed by NagaCoin (NGC). Lesser known Neufund and Wysker so far have managed to keep their value after the ICO.
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