The DAO Crowdsale Shatters Ethereum Funding Total

There is a lot of focus on the crowdsale of The DAO right now, a project which is raking in a lot of money at a very rapid pace. In fact, the amount of money collected is so high already; it raised more money than Ethereum itself did.

The DAO Is An Obvious Success

It is always good to see cryptocurrency projects doing quite well, and The DAO offers something entirely different than we have seen before. As we explained in a previous article, this initiative will make money through ingenious ways, which has attracted a lot of attention from new and existing Ethereum holders.

However, no one expected this amount of money to be raised so quickly, as the campaign has surpassed the US$19m mark already. At the time of writing, close to 2 million ETH was found in the address associated with this crowdsale. Translating that to USD – at US$9.95 per ETH – we see a total of US$19,667,528.2.

This is quite a significant amount in its own right, and it well surpasses the total amount of money Ethereum itself has raised in the past. Even though the US$18.5m raised during the Ethereum crowdsale was well above expectation, the numbers provided by The DAO show there is still a lot of room left for growth within this ecosystem.

It is not the first time an Ethereum-based project is raising a lot of money in quick succession, though. Just a few weeks ago, the DigixDAO crowdsale reached the US$5.5m target within the first 24 hours, which was stunning. Since The DAO has no hard cap in place, it remains to be seen where this will end.

Some people have predicted this project will raise over US$50m, and so far, the numbers seem to add up to make this a possibility. Whether or not that will be the case, remains to be seen. However, one thing’s for sure, though: The DAO crowdsale is a massive success, and a lot of money has been invested.

Source: Reddit

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