A new report released yesterday puts the total capital raised by ICOs between January and May at $13.7 billion. The report was published by PwC Strategy and the Crypto Valley Association, based in Zug, Switzerland. The money was raised by a total of 537 ICOs that formed part of the report’s worldwide study.
According to the report, since 2013 $21 billion has been raised by 3,470 ICOs. Only 30 percent of funding rounds closed successfully during the period, with many losing momentum. The publication also states that “After all the hype of 2017, this year has seen the ICO sector becoming more mature and established, with an improved focus on best business and legal practice, investor relations and fundraising.”
The full report can be accessed here.
Momentum Set to Continue in Second Half of 2018
While the prices of major cryptocurrencies like Bitcoin, Ethereum and Ripple’s XRP continue to slide, investors appear to be diversifying into smaller blockchain projects with more potential for upside. Although momentum slowed in April, it immediately accelerated again in May which also saw EOS ending its 12-month, $4 billion token sale.
According to the ICOdrops website, the total raised in 2018 rose at least $416 million during the month of June. The site generally tends to cover the most prominent projects only, meaning the total raised during June was likely higher.
Significant token sales that concluded in June were DAV Network, GoNetwork, OneLedger, Alchemint, HybridBlock and QuarkChain. Of the 20 ICOs that concluded, 70 percent achieved at least 95 percent of their funding targets.
At least 22 token sales are set to be held in the next two months, with combined hard caps of $519 million. However, many of these projects have yet to announce the details of these sales. Several token sales are on hold pending regulatory approval and certainty, while others are conducting pre-sales before announcing the details of their token sales.
Despite uncertainty in the rest of the crypto markets, there appears to be signs as yet of the ICO phenomenon losing steam.