With July now gone, it is time to reflect at how Initial Coin Offerings are doing in 2018 — so far! Some predicted that the explosion in ICOs during 2017 would lead to a downturn in the market during 2018, but according to statistics it has in fact been an even more successful year for them.
March 2018 was a particularly good month for ICOs and the statistics collected since January indicate that ICOs continue raising huge sums of money, despite many thinking of them as scams. This has not put people off, as the number of projects launching keeps growing month on month.
It also appears that ICOs have set their sights even higher, with the most popular fundraising goals being set between $1 million to $10 million, with a significant number looking for over $50 million.
According to statistics collated by Cointelegraph, in 2017 there was a definite spike in the number of project launches during April when $218 million was raised.
ICOs are an important part of the cryptocurrency ecosystem, and whilst they may have a different take on regulations than cryptocurrencies, they are still affected by the positives and negatives happening in the crypto markets.
For example, when the SEC rules that a decentralised autonomous organisation (DAO) was a security and China decided to ban ICOs in September 2017, other country’s regulators started to show a higher level of nervousness about the ICO method of raising capital.
And then in December 2017, following the G20 announcement that it would be discussing cryptocurrency regulation, the ICO capital raised reached new heights.
So, what we can conclude is this: 2018 to date has been a significantly bigger year in terms of the amount of money raised by ICOs. Furthermore, the data shows an increase in the number of ICOs that raised this capital by comparison with 2017. In 2017, 1,069 ICO projects were launched for the entire year. However, in just the first half of 2018 there have been 2,131 projects raising a substantial $12.8 billion.