Coinspeaker partnered with ICOBox to provide our readers with this weekly analysis conducted by Professor Dima Kornilov and Dima Zaitsev devoted to ICO market changes during 2017-2018. Special emphasis has been placed on an analysis of the changes that took place in February 2018, including over the last week (February 19-25, 2018).

Information as of February 25, 2018

This report was created by:

This report presents data on the ICO market changes during 2017-2018. Special emphasis has been placed on an analysis of the changes that took place in February 2018, including over the last week (February 19-25, 2018).

1. General analysis of the ICO market (by week, month).

    1.1 Brief overview of ICO market trends

 The two largest ICO presales in February broke all previous records in terms of collected funds. The El Petro ICO presale, which began on February 20, collected $735 million on the first day. This was announced by Nicolas Maduro on his Twitter account. El Petro was described as a sovereign state cryptocurrency. Pavel Durov’s TON ICO presale collected $850 million. The amount of these two ICOs is already more than $1.5 billion, which speaks to the start of a new stage in the development of ICOs, to the arrival of major institutional players and backers, and to the start of the formation in countries of internal payment systems based on cryptocurrencies.

Table 1.1. Brief ICO market overview, key events, news for the week of February 19-25, 2018

Factors and events

(link to source)

Date of news Description Type of impact
1.                      Venezuela Announced Start of Petro Presale [source: ft.com] February 20, 2018 Venezuela started its ICO and launched the presale of its national cryptocurrency backed by oil after all. According to Nicolas Maduro’s Twitter account, it collected $735 million on the first day of the presale. ICO ⇑

Favorable

2.                      German Regulator Clarifies Obligations for ICO Operators Following Increased Interest [source: Cointelegraph] February 20, 2018 German regulator BaFin issued a list of requirements on the tokens of ICOs and explained the law under which the sale of tokens falls. ICO ⇑ Favorable
3.                      Telegram Holds the 2nd Secret Pre-ICO Sale Aims to Raise $1.6B Before ICO [source: Coinspeaker] February 22, 2018 The Telegram ICO has begun the collection of an additional $850 million from accredited backers over and above the amount already collected, and intends to collect around $1.6 billion prior to the start of the ICO proper. ICO ⇑ Favorable
4.                      One Day After Petro Went Live, Venezuela Introduces New ‘Petro Gold’ Token [source: Coinspeaker] February 22, 2018 Nicolas Maduro has announced the creation of another cryptocurrency, this time backed by gold. ICO ⇑ Favorable
5.                      The Head and a Member of the Board of Tezos Have Left Their Posts [source: Tezosfoundation] February 22, 2018 The head and a founder of the Tezos Foundation have left their posts and have been replaced by new members of the project’s community. This will allow the quickest possible development of the project to continue. The platform may be launched in the near future. ICO ⇑ Favorable

Table 1.2 shows the development trends on the ICO market since 2017. Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered.

Table 1.2. Aggregated trends and performance indicators of past (completed) ICOs1

Indicator Total

20172

December

2017

January

2018

Feb 1-4,

2018

Feb 5-11,

2018

Feb 12-18,

2018

Feb 19-25,3

2018

Total amount of funds collected, USD million 6890 1611.9 1629.7 363.9 298.8 333.4 177.2
Number of companies that completed an ICO1 514 86 102 15 19 29 12
Maximum collected, USD million (ICO name) 258

(Hdac)

258

(Hdac)

100 (Envion) 46

(IUNGO)

42

(Fusion)

39

(0chain)

47.5 (Lendroid)
Average collected funds, USD million 13.4 18.7 17.1 24.3 15.7 11.5 14.8

Note:
1 Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com. For some ICOs information may currently be incomplete (for instance, the amount of funds collected).
2 More than 1,000 ICOs were performed in 2017. However, the data for 514 ICOs were considered when calculating the total amount of funds collected during 2017, i.e. the collected funds of the largest and most popular ICOs, the data of which can be processed, were considered (data updated: February 25, 2018).
3 Without the collected funds of the TON and El Petro pre-ICOs.

The data for 2017 and for January and February 2018 were adjusted to account for the appearance of more complete information on past ICOs. From February 19-25, 2018, the amount of funds collected via ICOs equaled $177.2 million. This amount includes the results of the 12 successfully completed ICOs, with the largest amount collected equaling around $47.5 million (Lendroid ICO). The average collected funds per project equaled $14.8 million. More detailed information on the main ICOs, including the 12 ICOs completed over the past week, is given in Tables 1.3 and 1.4.

 Table 1.3. Amount of funds collected and number of ICOs

Month Collected,

$ million

Number of ICOs* Average collected,

$ million

January 2017 3.7 7 0.53
February 35.3 11 3.21
March 7.3 4 1.82
April 115.2 18 6.40
May 264.2 21 12.58
June 649.5 33 19.68
July 719.1 36 19.97
August 511.2 48 10.65
September 914.2 68 13.44
October 949.6 91 10.44
November 1109.0 91 12.19
December 1611.9 86 18.74
Total, 2017 6890.1 514 13.40
January 2018 1629.7 102 16
February 1-4, 2018 363.9 15 24.3
February 5-11, 2018 298.8 19 15.7
February 12-18, 2018 333.4 29 11.5
February 19-25, 2018 177.2 12 14.8
Total 9693.0 691 14

* Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com
Information on funds collected is not available for all ICOs (information for last week is tentative and may be adjusted).
** More than 1,000 ICOs were performed in 2017. However, the data for 514 ICOs were considered when calculating the total amount of funds collected during 2017, i.e. the collected funds of the largest and most popular ICOs, the data of which can be processed, were considered (data updated: February 25, 2018).
*** Without the collected funds of the TON and El Petro pre-ICOs.

Table 1.3 shows that the largest amount of funds was collected via ICOs in December 2017 and January 2018. The highest average collected funds per ICO was seen in June, July, and December 2017.

The data for last week (February 19-25, 2018) may be adjusted as information on the amounts of funds collected by completed ICOs is finalized.

 

Figure 1.1. Trends in funds collected and number of ICOs since the start of 2017

weekly-ico-market-analysis-february-19-25-2018-figure-1-1

2. Top ICOs

Table 1.4. Top 10 ICOS in terms of the amount of funds collected (February 19-25, 2018)

Name of ICO*** Category* Collected, $ million Date
1 Lendroid Trading & Investing 47.5 February 20, 2018
2 Electrify.Asia Energy & Utilities 29.1 February 24, 2018
3 Dock Content Management 20 February 21, 2018
4 BABB Finance 20 February 21, 2018
5 TE-FOOD Supply & Logistics 19.1 February 22, 2018
6 Debitum Network Finance 16.4 February 25, 2018
7 LWF Supply & Logistics 7.5 February 23, 2018
8 CoinLion Trading & Investing 7 February 25, 2018
9 Data Trading Trading & Investing 6.4 February 22, 2018
10 Arcona Pre-sale Gaming & VR 2.9 February 25, 2018
  Top 10 ICOs 176  
  Total funds collected from February 19-25, 2018 (12 ICOs)** 177.2  
  Average funds collected   14.8  

* The category was established based on expert opinions.
** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, icodata.io, coinschedule.com and other specialized sources is used.
*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected).
**** Without the collected funds of the TON and El Petro pre-ICOs.

Table 1.4 shows the top 10 ICOs which were successfully completed during the period February 19-25, 2018. The leader for the week was the Lendroid project. Lendroid is a platform for margin trading and lending. According to the developers, this type of decentralized trading will make it possible to lower costs by eliminating intermediaries, and will ensure the reliability and safety of exchange trading.

Figure 1.2 presents the ten largest ICOs completed last week.

Figure 1.2. Top 10 ICOs in terms of the amount of funds collected (February 19-25, 2018)

weekly-ico-market-analysis-february-19-25-2018-figure-1-2

 

3.Top ICOs in their categories  

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week.

Table 1.5. Top 10 ICOs in terms of the amount of funds collected, Trading & Investing category

Name of ICO Category* Collected, $ million Date Token performance
1 QASH Trading & Investing 108.2 November 8, 2017 2.69x
2 Comsa Trading & Investing 95.4 November 6, 2017 1.01x
3 Lendroid Trading & Investing 47.5 February 20, 2018 n/a
4 MCAP Trading & Investing 45.2 May 7, 2017 n/a
5 Enigma Catalyst Trading & Investing 45 September 11, 2017 4.27x
6 Loopring Trading & Investing 45 August 16, 2017 n/a
7 Crypto20 Trading & Investing 38.2 November 30, 2017 2.11x
8 Republic Protocol Trading & Investing 34.3 February 3, 2018 1.46x
9 Stox Trading & Investing 33.4 August 3, 2017 0.39x
10 Airswap Trading & Investing 32.7 October 11, 2017 1.95x

* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in February 2018 are highlighted in red.

The leader of the week, the Lendroid project, was in 3rd place in the top 10 for the category.

At present, all projects from the top 10 in the Trading & Investing category have a token performance indicator of 0.39x to 4.27x. Two projects from the top 10 completed their ICOs in February 2018. The Enigma Catalyst ICO can be considered one of the most successful exchange listings, as this project has a current token price to token sale price ratio of 4.27x. When considering this indicator, it is important to remember that the Enigma Catalyst ICO was completed on September 11, 2017, i.e. the 4.27x growth took place over five months. The market capitalization of Enigma Catalyst currently exceeds $190 million.

Figure 1.3. Top 10 ICOs in terms of the amount of funds collected, Trading & Investing category

weekly-ico-market-analysis-february-19-25-2018-figure-1-3

 

In February the ICOs of five projects that can be assigned to the Content Management category were also completed.

Table 1.6. Top 10 ICOs in terms of the amount of funds collected, Content Management category

Name of ICO Category* Collected, $ million Date Token performance
1 Datawallet Content Management 39.4 February 6, 2018 0.70x
2 Dock Content Management 20 February 21, 2018 n/a
3 Insights Network Content Management 17.4 February 9, 2018 n/a
4 Sapien Network Content Management 15.65 February 15, 2018 n/a
5 COPYTRACK Content Management 11.1 February 10, 2018 0.27x
6 Hubii Network Content Management 7.46 September 7, 2017 4.49x
7 Authorship Content Management 4.16 September 14, 2017 n/a
8 Lunyr Content Management 3.35 April 28, 2017 12.87x
9 WYS Content Management 2.5 January 31, 2018 n/a
10 Blockpool Content Management 1.75 June 30, 2017 2.67x

* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in February 2018 are highlighted in red.

At present, the Datawallet project has the largest amount of collected funds in the Content Management category. From among the top 10 projects in the Content Management category, the Lunyr project has the best token performance indicator. Its market capitalization currently exceeds $47 million.

Figure 1.4. Top 10 ICOs in terms of the amount of funds collected, Content Management category

weekly-ico-market-analysis-february-19-25-2018-figure-1-4

 Five ICO projects in the Energy & Utilities category were completed in January and February.

Table 1.7. Top 9 ICOs in terms of the amount of funds collected, Energy & Utilities category

Name of ICO Category* Collected, $ million Date Token performance
1 Gridplus Energy & Utilities 61.2 November 12, 2017 0.66x
2 WePower Energy & Utilities 40.0 February 1, 2018 2.02x
3 Restart Energy Energy & Utilities 30.0 January 23, 2018 0.71x
4 Electrify.Asia Energy & Utilities 29.1 February 24, 2018 n/a
5 Power Ledger Energy & Utilities 26.45 October 6, 2017 5.52x
6 energiToken Energy & Utilities 15.0 February 2, 2018 n/a
7 SunContract Energy & Utilities 2.0 August 1, 2017 12.87x
8 Solar DAO Pre-ICO Energy & Utilities 0.43 September 7, 2017 n/a
9 Graphene Power Pre-sale Energy & Utilities 0.1 January 10, 2018 n/a

* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in January-February 2018 are highlighted in red.

At present, the Gridplus project has the largest amount of collected funds in the Energy & Utilities category. From among the top 9 projects in the Energy & Utilities category, the SunContract ICO has the best token performance indicator. Its market capitalization currently exceeds $23 million.

Figure 1.5. Top 9 ICOs in terms of the amount of funds collected, Energy & Utilities category

weekly-ico-market-analysis-february-19-25-2018-figure-1-5

Over the last week (February 19-25, 2018), at least 12 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of collected funds of around $177 million. The leader of the past week was the Lendroid project ($47.5 million). The total amount of funds collected by a number of ICOs failed to reach even the $100,000 mark (the information for some projects is still being finalized).

The Glossary is given in Annex 1.

Annex 1 – Glossary

 

Key terms Definition
Initial coin offering, ICO A form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings to future holders in the form of blockchain-based cryptocurrencies (tokens) and digital assets.
Market capitalization Value of an asset calculated based on its current market (exchange) price. This economic indicator is used to assess the total aggregate value of market instruments, players, and markets. [Source: https://en.wikipedia.org].
Cryptocurrency market capitalization Aggregate market value of cryptocurrencies circulating on the market.
Total cryptocurrency market capitalization Cryptocurrency and digital asset market capitalization, i.e. the aggregate market value of all cryptocurrencies and digital assets circulating on the market.
Token reward Token performance (current token price / token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.
Dominance Market share, i.e. the ratio of market capitalization of a particular cryptocurrency (token) to total cryptocurrency market capitalization. Expressed as a %.
Token sale price

Current token price

Token sale price during the ICO.

Current token price.

Not Mineable

 

A coin that is not mineable. The term is used for cryptocurrencies (tokens) which cannot be mined or issued through mining.
Pre-mined A pre-mined coin. The term is used for cryptocurrencies (tokens) which are issued through mining, and a certain number of coins (tokens) have been created and distributed among certain users at the start of the project.
The rate of market increase (as a % compared to the beginning of the year) The rate of market increase (as a % compared to the start of the year), i.e. by how many % points did market capitalization increase compared to the start of the year.
The growth rate of the market (as a % compared to the beginning of the year) The market growth (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the start of the year.
Increase in market capitalization (in USD million compared to the previous period) Increase in cryptocurrency and digital asset market capitalization (in USD million compared to the previous period), i.e. by how many USD million did market capitalization increase over the period.
The rate of market increase (as a % compared to the previous period) Rate of market increase (as a % compared to the previous period), i.e. by how many % points did market capitalization increase over the period.
The market growth rate (as a % compared to the previous period) Market growth rate (as a % compared to the previous period), i.e. by how many times did market capitalization grow compared to the previous period.
Number of cryptocurrencies and digital assets Number of cryptocurrencies and digital assets. At the time when this glossary was compiled over 1,070 cryptocurrencies and digital assets were circulating on the market.
Average market capitalization Average market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number.
Token return Performance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance of $1 spent on buying tokens during the token sale, if listed on an exchange for USD.
ETH reward – current dollar value of $1 spent on buying tokens during the token sale Alternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH rate to its rate at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH rate.
BTC reward– current dollar value of $1 spent on buying tokens during the token sale Similar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its rate at the start of the token sale and then it was sold at the current BTC rate.
Token/ETH reward This ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH.
Token/BTC reward This ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.
ZAK-n Crypto index The index is calculated as a percentage and represents a ratio between the 24-hour trading volume (transactions) on cryptocurrency exchanges per day (Volume 24h) for n dominant cryptocurrencies to their total market capitalization.

ZAK-4 Crypto index calculations include four dominant cryptocurrencies with the greatest market capitalization: Bitcoin, Ethereum, Bitcoin Cash, and Ripple.

ZAK-8 Crypto index calculations include the trading volume and market capitalization for eight cryptocurrencies.


Disclaimer: While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections. Prospective financial results may be affected by fluctuating economic and political conditions and are dependent upon the occurrence of future events that cannot be assured. ICOBox makes no warranty or assurance regarding the achievability of projections or the data, information and assumptions relied upon herein. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. This document is for information purposes only and is not intended as an offer to sell securities, cryptocurrency or tokens, nor does it contain any recommendations or advice on any investments in any particular company or named assets. ICOBox expressly disclaims any and all liability for any representations, expressed or implied, contained in, or omitted from, this material. ICOBox is a provider of SaaS solutions for companies seeking to sell their products via distribution of tokens (ICO). ICOBox does and seeks to do business with companies covered in its research reports and buy any named assets. Disclaimer While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections. Prospective financial results may be affected by fluctuating economic and political conditions and are dependent upon the occurrence of future events that cannot be assured. ICOBox makes no warranty or assurance regarding the achievability of projections or the data, information and assumptions relied upon herein. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. This document is for information purposes only and is not intended as an offer to sell securities, cryptocurrency or tokens, nor does it contain any recommendations or advice on any investments in any particular company or named assets. ICOBox expressly disclaims any and all liability for any representations, expressed or implied, contained in, or omitted from, this material. ICOBox is a provider of SaaS solutions for companies seeking to sell their products via distribution of tokens (ICO). ICOBox does and seeks to do business with companies covered in its research reports and buy any named assets.