ICOs Then and Now: A Look at 5 Major Projects from Sept. 2017

In this article, I will look into the biggest initial coin offerings (ICOs) from September 2017 and see their progress to this point. Here, we will evaluate whether any project is a good investment idea.

September last year was a landmark month in the crypto industry. It was then that many of today’s “influencers” experienced an explosive growth of subscribers, leading to an average ICO hard cap of around $40 million.

Below is a look at five major projects from that era.

Tron

Tron (TRX) is a blockchain protocol that has enjoyed great partnerships. They managed to raise $70 million during their ICO, at a price of $0.0019/TRX, followed by a take-off of up to $0.25 in early January. A year later, the project has numerous partners that accept TRX for payment, many dApps, developer support programs, and more.

  • Ticker – TRX
  • Exchanges – listed on every major exchange like Huobi, UpBit, Binance, OKEx
  • Market Cap – $1,101,011,498
  • Website: https://tron.network/

I will increase my position in TRX, as it is currently performing worse than ETH, so I think there is excellent interplay between the two. I will exit TRX at $0.03-$0.04.

Kyber Network

Kyber Network (KNC) is a platform for trading and exchanging digital assets. It collected $52 million at a price of $ 0.38/KNC during the crowdsale. In September 2018, Kyber had a token swap and a decentralized exchange with a daily trading volume of 21.5 BTC. The team is slowly following their roadmap, which can be found on their official website (see below).

  • Ticker – KNC
  • Kyber Network Price – $0.171774
  • Market Cap – $26,207,693
  • Exchanges – Binance, Bithumb
  • Website: https://kyber.network/

I see some significant trading volume here in recent days so it may be an exciting time for entry, but I would suggest going with a stop-loss.

Salt

Salt (SALT) serves lending on the blockchain, where you can borrow and lend at interest. The project has collected $48.5 million for $ 0.89/SALT. The team has been working on the project since the token sale. Now the system has 64,000 users and loans for $50 million.

  • Ticker – SALT
  • SALT Price – $0.233207
  • Market Cap – $19,223,830
  • Exchanges – Binance, Bithumb
  • Website: https://saltlending.com/

We see an excellent position to enter here. Price is at the level of $0.2. There may be good potential to enter and aim for $0.6, considering that it is trading cheaper to ETH right now.

Engima

Enigma (ENG) offers privacy for the decentralized Internet. It is a project with one of the most developed communities in the crypto world. It collected $45 million ($0.60/ENG) and despite several changes in the roadmap and project goal, has managed to roll out a testnet.

  • Ticker – ENG
  • Enigma Price – $0.256729
  • Market Cap  – $19,805,842
  • Exchanges – Binance
  • Website: https://enigma.co/

Currently, ENG is outperforming ETH, so I do not see any interest for me. However, ENG provides a good medium term opportunity from a US dollar standpoint.

ICON

ICON (ICX) is the most famous Korean blockchain project, which tries to bring decentralization to everyone and everything. It collected less than $43 million ($0.11/ICX). After 12 months, the project has pleased us with its wallet, operating mainnet, numerous key partnerships and ambitious plans, which can be found in detail on its website.

  • Ticker: ICX
  • ICON Price – $0.236547
  • Market Cap – $111,927,562
  • Exchanges – Binance
  • Website: https://icon.foundation/

I see that ETH is currently outperforming ICX and it seems like ICX has bottomed. Against this backdrop, we will try to enter here with existing ETH on hand and target 2x returns in USD.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Vladislav Semjonov has a legal and financial background. He has been involved in crypto space since early 2017 in both ICO advising positions in several ICO consultancy firms, and as an ICO analyst for VC. He began contributing for Hacked.com in April 2017.