Trade.io Token Sale Reaches $20 Million

Trade.io Token Sale Reaches $20 Million

Trade.io’s token sale has now reached $20 million. But, with six days to go until its ICO closes, it is still well short of the company’s original $135 million target.

Trade.io, which aims to use blockchain technology to offer up a smart contracts-powered, peer-to-peer platform, is seeking to integrate cryptocurrency trading with trading in other markets including FX and CFDs. 

Other assets including precious metals, indices and equities are planned for a later stage. Eventually, the platform hopes to operate as an ICO launchpad. 

Doubts Emerging Over Project’s Ambitions

By using a peer-to-peer model, the platform claims it will be able to offer its users reduced trading fees by eliminating intermediaries who take a significant slice of the profits within traditional trading markets.

However, despite largely surpassing its own $5 million soft cap which it achieved in pre-sale, the fact that it has fallen so far short of its hard cap target has left some analysts dubious as to the prospects of the project achieving its own ambitious targets over the longer term.   

“Part of the problem appears to be that, whilst investors are now seeing numerous ICOs coming to a market in a space that presents clear opportunities, it is also clear that competition is also high,” stated one pre-sale investor.