Altcoins, ICOs, Price Watch

EOS Raises Record-Breaking $4 Billion from Crowdsale

EOS Raises Record-Breaking $4 Billion from Crowdsale

A fierce competitor to the Ethereum network, EOS is one of the most popular cryptocurrencies trading on the market today. Block.one, the developer behind EOS, has already raised a record-breaking $4 billion USD from its yearlong ICO ending on June 1.

The Largest ICO To-Date

The initial coin offering phenomenon has taken the world over as a new method for startups to raise significant amounts of capital without having to give up equity and draw investments from venture capital or institutional firms.

ICO Contributions In 2018 Already Surpass the $5.6 Billion Raised in 2017
Related Story: ICO Contributions In 2018 Already Surpass the $5.6 Billion Raised in 2017

According to WSJ, the total amount invested in ICOs has risen from $6.6 billion in 2017 to $7.15 billion USD in 2018 so far – despite regulatory uncertainty and restrictions in many major countries, such as China and South Korea.

EOS has sold over 900 million ERC-20 tokens worth nearly $4 billion USD in their yearlong coin offering launched June 26, 2017.

Dwarfing most other ICOs and nearly doubling the second largest coin offering of this year (Telegram at $1.7 billion USD), EOS is well-prepared to launch its mainnet on June 2 and compete with Ethereum for the mantle of the most popular blockchain operating system.

EOS | EOS

Updated: May 29, 2018 at 4:58 pm PDT
$12.17 | 3.86%

EOS, currently ranked #5 by market cap, is up 3.86% over the past 24 hours. EOS has a market cap of $10.8B with a 24 hour volume of $1.88B.

Chart by CryptoCompare

EOS is up 3.86% over the past 24 hours.

EOS: Post-Crowdsale Plans and Expansion

According to their website, EOS plans to leave their software open source for developers to build out the platform and ecosystem via upgrades to the public chain and decentralized applications (dApps).

Block.one has already invested hundreds of millions into joint ventures with FinLab AG and private blockchain investors to “accelerate [the] development of EOSIO projects” and ecosystems worldwide.

In addition, EOS has invested over $1 billion USD in startups developing applications on the Dawn 3.0 smart contract platform.

Related Article: Potential EOS Mainnet Launch Delay: Internet Security Giant Identifies High-Risk Security Vulnerabilities (Updated)

Despite a recently uncovered security flaw regarding a potential “Supernode Attack” that would leave the EOS network susceptible to breaches in private data, the next-generation smart contract platform has made strides in reaching its determined mainnet launch on June 2.

In an effort to expand the team, Daniel Larimer, Co-founder of Steemit and EOS CTO, has listed eight key developer positions for software engineers looking to work on the EOS project.

Block.one CEO, Brendan Blumer, has also recently hired Richard Jung, former CEO of leading Korean cryptocurrency exchange, Bithumb, as Head of Korea operations – a clear move towards assembling a world-class team to spearhead the scaling of EOSIO 1.0.

Cover Photo by Jesse Echevarria on Unsplash

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Jonathan Kim Author

Jonathan Kim

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

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