In 1997, during the dot-com boom, there were nearly 9,000 companies listed on U.S. stock exchanges. Since then, that figure has been cut in half and the number of IPOs has been in decline. Fast forward to 2017 and startups raised over $6.6 billion through ICOs. That figure doesn’t include EOS, which had a year-long ICO that was completed in 2018 and raised over $4 billion, and there’s still the question of how to count Telegram’s $1.7 billion private token sale. Are ICOs replacing IPOs? Not so fast. As opposed to ICOs becoming the new normal, data suggests we might…

This story continues at The Next Web