January Set To Be Another Record Breaking Month For Token Sales

January Set To Be Another Record Breaking Month For Token Sales

Token sales in the third week of January continued to attract investment despite an extended selloff in the broader crypto market.

Token sales listed on the ICODrops website that ended between the 15th and 21st of January raised a total of more than $431 million.  ICOs had raised just over $380 million the previous week.

Most ICOs Achieving Hard Cap

In addition, pre-sales by Restart Energy and Babb raised $26 million and $10 million respectively. Whilst ICODrops lists most of the large token sales, however, there are numerous smaller sales not included so the figures are likely to underestimate the full total.

Of the 15 projects that completed their token sales, 14 reached their targets. Only Envion, a mining infrastructure project, fell short of its $150 million hard cap. It did, however, manage to raise $100 million, making it the largest ICO for the week.

Eight projects categorized as blockchains or blockchain services attracted 56 percent of the money raised. Envion raised 23 percent of the total, with the remaining 20 percent spread between marketplaces, media platforms, a trading platform and a verification protocol.

While there are relatively few token sales ending during the current week and during the last few days of the month, January is already shaping up to exceed the estimated $1.18 billion raised in December.

The pace of token sales had appeared to slow in November but appears to once again be gathering momentum. Several large sales scheduled for February and March are already attracting widespread interest, so it’s quite possible the momentum will continue through the first quarter of 2018.