It’s still the beginning of the year while 40 ICOs raised over $1 billion in 2018 so far the nascent industry is on pace to top last year’s mark of $5.6 billion.
With over 40 ICOs and over $1 billion raised already in the new year, the nascent industry is on pace to top last year’s mark of $5.6 billion.
2018: AN EVEN BIGGER YEAR FOR ICOS?
Last year, there were 902 so-called Initial Coin Offerings (or ICO) projects tracked by TokenData. Out of that amount, 142 failed prior to the offering, and another 276 failed after raising funds.
But despite a lackluster success rate of about 48%, startups still managed to raise $5.6 billion USD in 2017, according to Business Insider.
Just under a half (435) of the ICOs were considered to be a success, raising an average of $12.7 million, while the ten largest offerings comprised 25% of the total money raised, according to TokenData.
In 2018 so far, the trend is not showing any signs of slowing down. With 48 ICOs into the year, the amount raised so far exceeds $1.1 billion, according to data from Coinschedule.
What’s more is that this figure does not yet include the Telegram ICO that already secured over $850 million in a pre-sale as it aims for its goal of $2 billion later this year.
The top three ICO categories so far in 2018 include Trading & Investing, Finance, and Communications. These comprised over a third of all offerings. Moreover, the lion’s share of this sum ($525 million) has been scooped up by the top ten ICO projects in Pareto fashion, led by Envion—a company promising “off-grid mining solutions” that managed to raise $100 million.
At this rate, ICO projects could raise well over $7 billion USD by the end of 2018. But if last year is anything to go by, the pace could ramp up at any time as an explosion of ICO activity and funds raised occurred in the second half of 2017.
Therefore, the figure could go well into double digits, depending on how the regulatory environment develops in 2018 across key regions, such as the EU and the United States.
Source: ICOs Raised Over $1 Billion in 2018 So Far