According to data gathered by Token Data, token sales raised a total of $5.6 billion in 2017, $1.18 billion of which was raised in December alone.
The record month may be somewhat misleading as some of the largest and most successful ICOs closed during December, but started earlier in the year.
Leading the table for December’s entries is Sirin Labs which attracted $157 million in investment, followed by Bankex which raised over $70 million.
Most ICOs Failing to Meet Hardcap
Other token sales which were well received by investors were Zen Protocol, INS, Finom, Indahash, Nebulas, Naga, and Blockstack – each of which raised in excess of $40 million.
However, as per data listed on ICO Drops, only 27 out of 77 token sales, or 35%, reached their hard cap target during December. Moreover, slightly more (29/77) ICOs failed to reach 50% of their target.
According to Token Data’s statistics, 442 ICOs raised a total of $5.596 Million in 2017. Token Data does not include smaller ICOs, of which there may have been over 1000.
That means the full total may have been over $6 billion. The average raise for the sales was $12 million, though that number was skewed by a handful of very large crowd sales. The median sale raised a more modest $4.5 million.
Token sale volumes picked up dramatically in June and July, slowed in August and then accelerated again in September. It initially appeared that the ICO mania was losing steam in late November, however, that turned out to be another pause before another flurry of activity going into the end of the year.