Bitwise "Coinbase to Redefine ICO Market"

JOON HYOUNG LEE

Summary

Bitwise said Coinbase's new ICO platform could redefine the cryptocurrency market.
Next year, many ICOs on the scale of billions of dollars will be conducted through platforms like Coinbase, and a substantial portion of them will succeed.
CIO Hogan said ICOs are cheaper and faster than traditional IPOs, and he expects more projects will shift to the ICO model.

Matt Hogan, Bitwise's Chief Investment Officer (CIO), said on the 11th (local time) in a 'CIO memo' that "there will be more than six ICOs on the scale of billions of dollars through platforms like Coinbase next year" and "he expects a substantial portion of the new ICOs will succeed." Earlier, Coinbase announced on the 10th that it would launch a new ICO platform. The platform's first project is Monad (MON), which plans to pursue an ICO next week.

He also mentioned that ICOs could potentially replace initial public offerings (IPOs). Hogan said, "ICOs have proven that new projects can quickly raise funds through cryptocurrencies," and "unlike traditional IPO methods, ICOs were inexpensive, fast, and egalitarian." He added, "(Next year's ICO market) will prove that funds can be raised under better conditions than the traditional IPO market," and "we expect more and more projects will shift to the ICO model instead of the traditional model."

MON