Home Archive Fluctuating Cryptocurrency Prices Are Wreaking Havoc on ICO-Funded Blockchain Startups

Fluctuating Cryptocurrency Prices Are Wreaking Havoc on ICO-Funded Blockchain Startups

Iyke Aru
Last Updated March 4, 2021 3:34 PM

In the last three months, ethereum price as fallen by over 60%. This drop in price has directly affected the budget plans of every ETH-denominated token sale within this period.

Price volatility is a prominent aspect of the cryptocurrency ecosystem of today. While most ICOs executed in 2017 benefited from the significant surge in price across board, 2018 presents the direct opposite. However, startups and companies involved remain obligated to deliver on their promises.

Considering the uncertain nature of the crypto ecosystem, speed of execution is proving to be crucial in other to remain within predictable boundaries while executing a crypto-denominated crowdfunding exercise.

India-based startup Exioms Technologies  claims to fast track processes involved in the prosecution of initial coin offerings (ICOs) for both startups and already established companies. This emerging technology and business innovation company announced in a press release that its services will enable clients to develop and launch Ethereum-based tokens in just a matter of hours.

The Complications of Running a Token Sale

ethereum price cryptocurrency
ETH/USD | Bitfinex

Every ICO is comprised of a number of simultaneously moving parts that require a lot of resources to put them together. This process usually takes time, ranging from a couple of weeks to several months, in some cases.

Considering the extent of volatility in the token market and cryptocurrency ecosystem, things can change very quickly and original plans can be disrupted significantly over a short period of time. A typical example is seen in the ongoing UBEX token sale exercise where the deadline was extended by about six weeks and hard cap increased. The reason cited being due to the major slump in price of cryptocurrencies, especially ETH between the ICO launch date and present times.

The Importance of Speed

In consequence, today any system that promises to deliver speedy execution of the now popular crowdfunding system in the blockchain industry attracts reasonable attention. If accurately implemented, it could be the singular factor that differentiates between a successful project and otherwise, even long after a token sale.

The Exioms project claims to partner with businesses by offering a robust development and marketing service in order to enhance the launching process and online presentation in record time.

“Businesses are quickly adopting Blockchain as a way to streamline the online payment process and manage transaction transparency,” said Dileep Seinberg, Exioms founder and CEO. “Our business is at the cutting-edge of this technology. We are helping start-ups, enterprises and SMEs integrate Blockchain into their daily business practices to help them operate efficiently and grow their business.”

Beyond Cryptocurrency

Exioms is already involved in serving the government, enterprise, and SME sectorsin India. The establishment mechanizes with the most-disruptive technologies in the market like blockchain, IoT, artificial intelligence, payments, fintech and AR/VR Solutions.

Blockchain technology extends beyond cryptocurrencies and finance. It has been described in several cases as the future of business and the next layer of digital technology. Riding on the existing foundation of internet protocols, there is the expectation that the next decade will experience an unprecedented digital revolution that will be powered by blockchain technology.

Focusing on the anticipated revolution, we are bound to see more services that will provide and enhance adaptable solutions that will help both startups and traditional establishments adjust with the trend. There is definitely much more to be seen, especially as the regulatory framework keeps adjusting in order to find suitable systems for a sustainable digital environment.

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