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Total virtual currency sales jump in 2018 but monthly trend slows

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Virtual currency sales ballooned to US$9.1 billion so far this year, exceeding the $6.6 billion total for all of 2017, a financial technology data provider reported on Monday, but it said the monthly trend actually showed a slowdown if the two biggest offerings are excluded.

Digital technology startups around the world have raised funds by selling cryptocurrencies, or tokens, that sidestep banks or venture capital firms as intermediaries.

Financial technology provider Autonomous NEXT reported the $9.1 figure, noting that the total includes token sale offerings of Telegram, a messaging service founded by Russia-born entrepreneurs Pavel and Nikolai Durov in 2013, and Block.one's EOS currency.

Published in FINTECH TALK
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