BitStarz Hot ICOs of 2018 – Where are they Now (Part 1)?

ICOs were by and large a dead bet in 2018, but we at BitStarz still thought there were some worth watching, and so we profiled the ICOs we considered as having potential. Now, a year later, it’s time to catch up with the projects to see if any have lost their training wheels or if they’re not toilet trained yet.

OneLedger (OLT)

  • Project summary: Agnostic cross-ledger protocol to enable high-performance scaling
  • ICO raise: $1.6 million
  • ICO token Cost: $0.05
  • Current market cap: $4 million
  • Current token value: $0.012 (-76%)

OneLedger is currently 76% down on its ICO price, but this might be quickly invalidated if the team progresses in the same manner that they have been since the ICO closed. The team have shrugged off the token price (more the victim of the bear market than anything else) to get the protocol accepted into the Google Cloud for Startups program, which is no mean feat. This means that Google will contribute financially towards development of the platform as well as offering training. There is a groundswell of excitement about the project, aided by the announcement of a token buyback, and seeing as it is yet to make one of the top 5 exchanges, now could be a good time to step in if you favor the project.

NeonExchange (NEX, rebranded to NASH)

  • Project summary: Decentralized exchange with off-chain matching engine
  • ICO raise: $21,820,000 million
  • ICO token Cost: $1.00
  • Current market cap: $81 million
  • Current token value: $2.24 (+124%)

The NEX token was a long time in coming – so long in fact that it never did, given that the project completely rebranded to Nash Exchange in January and launched the NASH token in April after huge delays. The delays seemed to be worth it though, as the project has built out its ambitions from a simple exchange to a whole distributed finance model, aiming to “empower more than one billion users” by 2030, according to founder Fabio Canesin. As a result the token has more than doubled in value since ICO which is testament to its usage and potential, and with big plans ahead, such as a Nash Mobile and Nash Pay on the horizon, this project might just have the potential to turn from a caterpillar to a butterfly.

Phantasma Protocol (SOUL)

  • Project summary: A platform where users can control their own content, with a focus on interoperability, scalability, privacy, and cost
  • ICO raise: $9,650,000
  • ICO token Cost: $0.23
  • Current market cap: $2.87 million
  • Current token value: $0.049 (-78.7%)

SOUL launched in June last year, but unfortunately the lack of immediate development and the bear market saw the price drop significantly, remaining low throughout 2018 and 2019. This has dropped the market cap significantly too, putting it firmly in the category of ‘micro cap gem’. Don’t think for a minute that the team has been quiet – far from it. They have been very busy posters on social media, proudly announcing partnerships, MVPs, a proprietary stablecoin, dApp hosting, testnets, and more. The GitHub sees regular commits which shows the team is working hard on delivering their product, and clearly a big-name partnership is all this project needs to blow wide open.

EdenChain (EDN)

  • Project summary: A blockchain platform for enterprise users that aims to replace existing assets with blockchain-based tokens via smart contracts
  • ICO raise: $ 24,000,000
  • ICO token Cost: $0.06
  • Current market cap: $1.8 million
  • Current token value: $ 0.003 (-95%)

One of the few projects we featured that met its hard cap, EdenChain created a lot of buzz during a time when ICOs were largely dying a slow, lingering death. However, the hype was clearly created to favor seed investors as the token value tanked straight after listing in October last year and has barely moved ever since. A quick scan through social media reveals little to no interest in the project, although they are active on Twitter, and the website is underwhelming to say the least – it certainly didn’t see much of the $24 million raised. A dApp store, called Dorothy, is in the works, and this month should see the launch of MoA (an acronym which is not explained on the website) and Pegasus, a “seamless payment solution”. However, seeing as their GitHub has not been added to since July 2, don’t hold your breath on that front. It wouldn’t be a surprise to see this project slip away into obscurity.

Thanks for reading Part 1 of our BitStarz Hot ICOs of 2018. Look out for part 2 next week!

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