ICO Fundraising Slows Slightly in June and July

ICO Fundraising Slows Slightly in June and July

Data collected by ICO Bazaar shows that the ICO market slowed slightly in June and July, but is expected to pick up again from August onwards. Whilst a summer slow-down is typical of most global markets, the numbers for June did receive a boost from a number of ICOs that had been delayed from previous months. 

ICO Bazaar collects data from more projects than comparable sites including ICO Drops. During June, the site recorded 242 ICOs concluding their token sales, raising $1.5 billion in the process. While the number of token sales that concluded in June was down 35% from May, the total raised was just 18% lower.

Larger Projects Have a Higher Chance Of Reaching Their Funding Targets

Larger projects, raising $25 million or more, had more chance of hitting their fundraising targets, than those raising smaller amounts. The largest ICOs in June were HybridBlock, Fantom, Coal Industry Token and Cardstack, all raising over $30 million.

The biggest categories, in terms of the total amount raised, were platforms and cryptocurrencies. Earlier in the year, ICO numbers were dominated by industry-specific marketplaces. This trend appears now to have shifted back to cryptocurrencies, new blockchains and smart contract platforms.

July is shaping up to be another solid month too. For starters, HB Token, a Macau-based gambling operation, reportedly raised $750 million in five minutes. The company plans to hold Poker and Chess tournaments, with winnings paid out in tokens. However, there is very little information available to verify this news.

Other prominent token sales that have so far concluded to date in July are Inmediate, Bitlumens, Oxcert, Liquidity Network and Sparkster. Dfinity and Origin Protocol are currently two other large ICOs with token sales that are ongoing.