For ICOs, crypto companies raise funds through the sales of coins or tokens . In both cases, investors are bullish, whether about the company or the cryptocurrency, and invest based on some belief that the asset’s value will increase over time.
Read moreHow much money can you make with an ICO?
According to the study, an average investor earns returns of 179% from the ICO price to the first day’s opening market price. They earn 82% even if there is a lag of more than 60 days after listing of tokens and 48% some 30 days after trading begins.
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