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 (March 5-11, 2018).

Information as of March 12, 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 March 2018, including over the last week (March 5-11, 2018).

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

    1.1. Brief overview of ICO market trends

The attitude toward ICOs in South Korea may change in the near future, as the possibility for legislative regulation and legalization of ICOs is being considered at the government level. We remind you that in September 2017 the Financial Services Commission of South Korea (following China’s lead) announced a ban on all forms of token placement

Table 1.1. Brief ICO market overview, key events, news for the week of March 5-11, 2018

Factors and events

(link to source)

Date of news Description Type of impact
1.                     Inspired By Venezuelan Petro, Cambodia May Issue A National Cryptocurrency [source: Cointelegraph] March 5, 2018 After the creation of the national cryptocurrency of Venezuela, the Petro, Cambodia has also started considering the possibility of creating its own national cryptocurrency. ICO ⇑

Favorable

2.  Venezuelan Cryptocurrency Petro Gets An Illegal Status From the Country’s Lawmakers [source: Coinspeaker] March 6, 2018 On March 6 the Asamblea Nacional of Venezuela, which includes the opposition to the country’s current president, Nicolas Maduro, announced that the issue of the national cryptocurrency Petro is unconstitutional and illegal. ICO ⇓

Unfavorable

3.                     Praetorian Group Files To Be First ICO To Sell Registered Security Tokens In US [source: Cointelegraph] March 9, 2018 Praetorian Group has become one of the first companies to officially apply to the US Securities and Exchange Commission to hold an ICO and issue tokens that meet the definition of securities worth $75 million. 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

20183

February

2018

March 1-4,

2018

March 5-11,

2018

Total amount of funds collected, USD million 6 890 1 611.9 1 733.6 2 832.1 158.3 219.3
Number of companies that completed an ICO1 514 86 102 107 8 14
Maximum collected, USD million (ICO name) 258

(Hdac)

258

(Hdac)

100

(Envion)

850

(Pre-ICO-1 TON)

50

(LeadCoin)

48.8 (Savedroid)
Average collected funds, USD million 13.4 18.7 17 26.5 19.8 15.7

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). ICOs that collected less than $100,000 were not considered.
2 More than 1,000 ICOs were performed in 2017. However, the data for the 514 largest and most popular ICOs, the data of which can be processed, were considered when calculating the total amount of funds collected during 2017.
2 The data for 2018 have been updated (date updated: March11, 2018).

The data for 2017 and for January and February 2018 were adjusted to account for the appearance of more complete information on past ICOs. The amount of funds collected via ICOs during the past week (March 5-11, 2018) equaled $219.3 million. This amount consists of the results of 14 successfully completed ICOs, with the largest amount of funds collected equaling $48.8 million (Savedroid ICO). The average collected funds per ICO project equaled 15.7 million (see Tables 1.2, 1.3).

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 6.4
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 1 109 91 12.19
December 1 611.9 86 18.74
Total, 2017 6 890.1 514 13.4
January 2018 1 733.6 102 17
February 2018*** 2 832.1 107 26.5
March 1-4, 2018 158.3 8 19.8
March 5-11, 2018 219.3 14 15.7
Total 11833.4 745 15.9

* 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). ICOs that collected less than $100,000 were not considered.
** More than 1,000 ICOs were performed in 2017. However, the data for the 514 largest and most popular ICOs, the data of which can be processed, were considered when calculating the total amount of funds collected during 2017 (data updated: March 11, 2018).
*** Taking into account the pre-ICO-1 of TON.

Table 1.3 shows that the largest amount of funds was collected via ICOs in February 2018. The highest average collected funds per ICO was also seen in February 2018.

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

weekly-ico-market-analysis-march-5-11-2018-figure-1-1

    1.2. Top ICOs of last week

Table 1.4 shows the ten largest ICOs of the week*

Table 1.4. Top 10 ICOs in terms of the amount of funds collected (March 5-11, 2018)

Name of ICO*** Category** Collected, $ million Date
1 Savedroid Trading & Investing 48.8 March 9, 2018
2 JET8 Commerce & Advertising 32.7 March 6, 2018
3 TrakInvest Machine Learning & AI 29.5 March 7, 2018
4 Ocean Protocol Content Management 22.1 March 9, 2018
5 BABB Finance 20 March 6, 2018
6 Sentinel Chain Finance 14.4 March 9, 2018
7 Budbo Drugs & Healthcare 11.7 March 5, 2018
8 Zebi Data Storage 8.6 March 5, 2018
9 IP Exchange Privacy & Security 7.9 March 5, 2018
10 Sp8de Gambling & Betting 7.2 March 11, 2018
  Top 10 ICOs* 202.9  
  Total funds collected from March 5-11, 2018 (14 ICOs)* 219.3  
  Average funds collected   15.7  

* 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.
** The category was established based on expert opinions.
*** 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). ICOs that collected less than $100,000 were not considered.

The data for last week (March 5-11, 2018) may be adjusted as information on the amounts of funds collected by completed ICOs is finalized.

The leader for the week was the Savedroid project. This is an investment platform for the creation of cryptocurrency portfolios, savings and purchasing of derivatives. Savedroid already launched its mobile savings app on the market in 2016. Users receive benefits from easy access to cryptocurrencies, and can take advantage of investment in crypto portfolios, futures and ICOs with a minimum of technological barriers.

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 (March 5011, 2018)

weekly-ico-market-analysis-march-5-11-2018-figure-1-2

 

    1.3. 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 2.25x
2 Comsa Trading & Investing 95.4 November 6, 2017 0.66x
3 Savedroid Trading & Investing 48.8 March 9, 2018 n/a
4 Lendroid Trading & Investing 47.5 February 20, 2018 n/a
5 MCAP Trading & Investing 45.2 May 7, 2017 n/a
6 Enigma Catalyst Trading & Investing 45 September 11, 2017 3.13x
7 Loopring Trading & Investing 45 August 16, 2017 n/a
8 Spice Venture Capital Trading & Investing 41.27 March 3, 2018 n/a
9 Crypto20 Trading & Investing 38.2 November 30, 2017 1.69x
10 Republic Protocol Trading & Investing 34.3 February 3, 2018 1.01x

* 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 and March 2018 are highlighted in red.

The Savedroid and Spice Venture Capital projects were completed in March and are included in the top 10 ICOs in the Trading & Investing category. Two projects from the top 10 also completed their ICOs in February 2018.

At present, all projects from the top 10 in this category have a token performance indicator of 0.66x to 3.13x. 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 3.13x. When considering this indicator, it is important to remember that the Enigma Catalyst ICO was completed on September 11, 2017, i.e. the 3.13x growth took place over six months. The market capitalization of Enigma Catalyst currently exceeds $136 million.

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

weekly-ico-market-analysis-march-5-11-2018-figure-1-3

In February and early March, the ICOs of four projects that can be assigned to the top 10 in the Commerce & Advertising category were also completed.

Table 1.6. Top 10 ICOs in terms of the amount of funds collected, Commerce & Advertising category

Name of ICO Category* Collected, $ million Date Token performance
1 Wax Commerce & Advertising 68.4 November 29, 2017 1.81x
2 LeadCoin Commerce & Advertising 50 March 2, 2018 n/a
3 IndaHash Commerce & Advertising 47.5 December 20, 2017 0.42x
4 Data Commerce & Advertising 38 January 21, 2018 0.87x
5 Basic Attention Token Commerce & Advertising 36 May 31, 2017 7.65x
6 Current Commerce & Advertising 36 February 7, 2018 n/a
7 JET8 Commerce & Advertising 32.7 March 6, 2018 0.51x
8 Bitclave Commerce & Advertising 25.5 November 29, 2017 0.37x
9 Catcoin Commerce & Advertising 25.5 November 29, 2017 n/a
10 MAD Network Commerce & Advertising 25 March 1, 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 February and March 2018 are highlighted in red.

At present, the Wax project has the largest amount of collected funds in the Commerce & Advertising category. From among the top 10 projects, the Basic Attention Token ICO has the best token performance indicator. Its market capitalization currently exceeds $260 million.

Figure 1.4. Top 10 ICOs in terms of the amount of funds collected, Commerce & Advertising category

weekly-ico-market-analysis-march-5-11-2018-figure-1-4

Last week (March 5-11, 2018) at least 14 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of funds collected of around $220 million. Last week’s leader was the Savedroid project ($48.8 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 the Annex.

Annex – 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 (token sales) to future holders in the form of blockchain-based cryptocurrencies and digital assets.
Token sale price

Current token price

Token sale price during the ICO.

Current token price.

Token reward Token performance (current token price ÷ token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.
Token return (see token reward) 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 price to its price 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 price.
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 price at the start of the token sale and then it was sold at the current BTC price.
Token/ETH reward This ratio describes a market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the market participant 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 market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.

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