Crypto Ledger Tezos Raises $160 Mln In 32 Hours, Will Become Largest ICO Ever

“Self-amending cryptographic ledger” Tezos has raised almost $200 mln in the first two days of its ICO. 

The uncapped sale of its Tezzies (TEZ) tokens will continue through July 12. At press time Monday, contributions had reached 42,600 BTC ($104.3 mln) and 184,700 ETH ($51.2 mln) for a combined total of around $155.5 mln.

The Tezos Fundraiser

The lack of hard cap means Tezos could easily end up being the largest ICO ever once it closes in ten days’ time.

The project had garnered tremendous interest from the cryptocurrency community and beyond, thanks in part to support and bullish sentiment from celebrated investor Tim Draper.

With 11 days to go, and total funds already north of $130 million, it looks like the Tezos ICO will be the biggest crowdfunding effort ever. pic.twitter.com/PsvMrOBdVC

— Brian Patrick Eha (@brianeha) July 3, 2017

Draper has since been somewhat quiet about his relationship with Tezos, while another project he sponsored, Bancor, also became the biggest ICO in history after it raised $153 mln.

This total was eclipsed just a week afterward by Brock Pierce’s Block.One ICO, however, which reeled in $185 mln.

The unlimited token issuance has meanwhile avoided the network clogging and mad rush which was ubiquitous with June’s prominent Ethereum token sales.

Tezos has remained free of any major technical problems, while it remains to be seen if developers can rise to the occasion and put funds offered, which could easily top half a billion dollars, to adequate use to generate value for investors.

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