Bitcoin’s roughly 70% selloff from the December peak to recent lows has weighed heavily on so-called altcoins and especially the newer tokens created via initial coin offerings.

Throughout 2017, the price rallies in bitcoin and the smaller digital currency ethereum helped feed the appetite for the new coin offerings, in which startups publicly sell bitcoin-like tokens. The fundraising method exploded, with more than $4 billion being raised in 2017.


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