Initial exchange offerings (IEOs), which launched in 2019 have lost investors up to 98% of their money, damning new statistics show.
In its latest report on the phenomenon published on Dec. 23, the analytics arm of exchange BitMEX, BitMEX Research, identified twelve major IEOs that launched this year. Of those, eleven are now almost worthless compared to the price at which they first traded on exchanges.
Almost all IEOs down 80% or more
“Relative to the first traded exchange price... the performance to date has been poor. Almost all the tokens are down over 80%,” the report summarized.
IEO investment returns since the first exchange-traded price. Source: BitMEX Research
Against the price at which organizers first offered the IEO tokens, the numbers fare slightly better. Four IEOs have delivered returns to investors, with performance varying between 7.9% and 490%........MORE
