Telegram’s Cryptocurrency Could Be Worth $200 Billion, but is the ICO Overpriced?
Telegram’s Cryptocurrency Could Be Worth $200 Billion, but is the ICO Overpriced?
"Telegram’s much-anticipated cryptocurrency could achieve a $200 billion market cap in five years, but a respected analyst said that the firm’s initial coin offering (ICO) is still probably overvalued. Reports on Telegram’s goal for the ICO have vari..."
Read more: www.ccn.com
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Is the news of a telegram ICO real this time?
I think most ICO's are overpriced. No one really knows the value of a particular ICO's but trust is key.
I tend to agree given the amount of money they are raising with some cases not having a functioning product or service. However, the hype is driving the demand and thus price. If the project actually is able to achieve its objectives and deploy its asset while reaching mass adoption, then the benefits will be seen and valuations justified. Unfortunately, the majority of the ICOs will not live up to expectations which will cause them to fail. Currently, most will be challenged by the SEC subpoenas sent as they will need to spend money and time on those inquiries instead of their projects.
For future viewers: price of bitcoin at the moment of posting is 8489.30USD