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 newsDescriptionType of impact
1.                    Inspired By Venezuelan Petro, Cambodia May Issue A National Cryptocurrency [source: Cointelegraph]March 5, 2018After 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, 2018On 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, 2018Praetorian 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

IndicatorTotal

20172

December

2017

January

20183

February

2018

March 1-4,

2018

March 5-11,

2018

Total amount of funds collected, USD million6 8901 611.91 733.62 832.1158.3219.3
Number of companies that completed an ICO151486102107814
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 million13.418.71726.519.815.7

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

MonthCollected,

$ million

Number of ICOs*Average collected,

$ million

January 20173.770.53
February35.3113.21
March7.341.82
April115.2186.4
May264.22112.58
June649.53319.68
July719.13619.97
August511.24810.65
September914.26813.44
October949.69110.44
November1 1099112.19
December1 611.98618.74
Total, 20176 890.151413.4
January 20181 733.610217
February 2018***2 832.110726.5
March 1-4, 2018158.3819.8
March 5-11, 2018219.31415.7
Total11833.474515.9

* 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, $ millionDate
1SavedroidTrading & Investing48.8March 9, 2018
2JET8Commerce & Advertising32.7March 6, 2018
3TrakInvestMachine Learning & AI29.5March 7, 2018
4Ocean ProtocolContent Management22.1March 9, 2018
5BABBFinance20March 6, 2018
6Sentinel ChainFinance14.4March 9, 2018
7BudboDrugs & Healthcare11.7March 5, 2018
8ZebiData Storage8.6March 5, 2018
9IP ExchangePrivacy & Security7.9March 5, 2018
10Sp8deGambling & Betting7.2March 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 ICOCategory*Collected, $ millionDateToken performance
1QASHTrading & Investing108.2November 8, 20172.25x
2ComsaTrading & Investing95.4November 6, 20170.66x
3SavedroidTrading & Investing48.8March 9, 2018n/a
4LendroidTrading & Investing47.5February 20, 2018n/a
5MCAPTrading & Investing45.2May 7, 2017n/a
6Enigma CatalystTrading & Investing45September 11, 20173.13x
7LoopringTrading & Investing45August 16, 2017n/a
8Spice Venture CapitalTrading & Investing41.27March 3, 2018n/a
9Crypto20Trading & Investing38.2November 30, 20171.69x
10Republic ProtocolTrading & Investing34.3February 3, 20181.01x

* 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 ICOCategory*Collected, $ millionDateToken performance
1WaxCommerce & Advertising68.4November 29, 20171.81x
2LeadCoinCommerce & Advertising50March 2, 2018n/a
3IndaHashCommerce & Advertising47.5December 20, 20170.42x
4DataCommerce & Advertising38January 21, 20180.87x
5Basic Attention TokenCommerce & Advertising36May 31, 20177.65x
6CurrentCommerce & Advertising36February 7, 2018n/a
7JET8Commerce & Advertising32.7March 6, 20180.51x
8BitclaveCommerce & Advertising25.5November 29, 20170.37x
9CatcoinCommerce & Advertising25.5November 29, 2017n/a
10MAD NetworkCommerce & Advertising25March 1, 2018n/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 termsDefinition
Initial coin offering, ICOA 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 rewardToken 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 saleAlternative 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 saleSimilar 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 rewardThis 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 rewardThis 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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